No bidders for LNT; auction cancelled
-- Home Textiles Today, 10/14/2008 8:15:00 AM
Clifton, N.J. — Today’s auction to sell off the assets of bankrupt specialty retailer Linens ’n Things has been cancelled.
No other bidders — liquidators or bidders to save the business as a going concern — emerged by 4 p.m. yesterday, the deadline set by the federal bankruptcy court.
That leaves the stalking horse bidder, the liquidation consortium comprised of Gordon Brothers Retail Partners, Hilco Merchant Services, Great American Group, SB Capital Group, Tiger Capital Group and Hudson Capital Partners, as the sole interest in the sell-off.
The group is expected to be ratified by the court in a hearing tomorrow afternoon. The going-out-of-business sales at the remaining 371 LNT stores are slated to begin Thursday, Oct 16. The chain’s liquidation is scheduled to extend until Jan. 31, 2009, with an option to go beyond that with court approval, if needed.
I agree with you. We where denied the truth. We got under because we couldn't come clean with our vendors. Because if we came clean LNT would have been still around. Sad Sad
associate - 2008-10-14 22:35:00 EDT
This is a real shame, shame on all the LNT Corp
LIARS. They made people believe there was a chance.
Knowing full well there was not. I hope BOB Dinicola
NEVER lands another job, he is an idiot.Of course
he probably has enough of LNT $ to last a while.
They have ruined many associates lives ,not to mention
our vendors they screwed over.
Kim - 2008-10-14 18:07:00 EDT
LIARS. They made people believe there was a chance.
Knowing full well there was not. I hope BOB Dinicola
NEVER lands another job, he is an idiot.Of course
he probably has enough of LNT $ to last a while.
They have ruined many associates lives ,not to mention
our vendors they screwed over.
-
Liquidators make LNT stalking horse bid
Oct 9, 2008 -
LNT seeks second round of store closings
Jul 9, 2008 -
LNT Runs Out of Time
Oct 13, 2008 -
LNT stalking horses hard to find
Aug 8, 2008 -
LNT sale hearing set for Friday
Oct 8, 2008
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