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Linens ’n Things

Linens ‘n Things (“Linens”) owned and operated a chain of 571 stores in 47 US states and six Canadian provinces. Linens had over 7,000 employees.

In order to address the continuing losses generated by its US locations, Linens commenced concurrent receivership proceedings in Canada and Chapter 11 proceedings in the US. We were appointed by the Court as Receiver and oversaw the day-to-day operations of the Canadian business during the restructuring process. We worked closely with Linens’ suppliers, landlords, employees and US advisors in order to facilitate an orderly wind-down of the Canadian locations. The process resulted in recoveries sufficient to repay Canadian creditors in full. We also worked closely with Canada Revenue Agency in order to address tax and corporate restructuring issues prior to making distributions exceeding $25 million, the ultimate recipients of which were the US bondholders of the parent company.

  • Clifton, NJ
  • Proposal; Receivership; Bankruptcy
  • Proposal Trustee; Court-appointed Receiver
  • Retail
  • National Retailer; Concurrent cross-border proceeding

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