Bankrupt, Linens 'n Things Will Fold 120 Stores

Retailer files for Chapter 11 as consumer spending falls
By Nick McMaster,  Newser Staff
Posted May 2, 2008 5:45 PM CDT
Customers leave a Linens 'n Things store in Chicago Friday, May 2, 2008.   (AP Photo/Charles Rex Arbogast)
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(Newser) – Linens 'n Things filed for bankruptcy protection today, MarketWatch reports, and plans to close 120 stores nationwide as other operations continue. "The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising improvements that we have made over the past two years," the company's new chairman said.