Linens N' Things was one of the first retail-sector casualties of the recession, with the home-goods chain filing for bankruptcy protection last May. However, fans of the retailer now have cause to celebrate -- Hilco Consumer Capital and Gordon Brothers Brands LLC announced today that they will relaunch Linens N' Things early this year, after a joint venture between the two firms acquired the chain's intellectual property rights.
Under the deal, the joint venture now has rights to the Linens N' Things brand name, as well as the company's bridal
and gift registry businesses, Internet domains, and several store-exclusive brands. "We are enthusiastic about the broad demographic appeal of Linens 'N Things and its highly trafficked website, www.lnt.com," said Stephen Miller of Gordon Brothers Group.
Hilco and Gordon plan to build on LNT's existing customer base by expanding into direct-to-retail licensing, wholesale licensing, e-commerce, and retail shop-in-shop. "We believe the licensing program will bring global growth to this premiere home market brand," noted Miller.
LNT isn't the first retailer the two firms have rescued from obscurity. Hilco and Gordon previously teamed up to buy the rights for Sharper Image and Bombay Co. -- and, if the retail sector continues to struggle, I imagine the joint venture's shopping list will only continue to grow.
Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.
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Reader Comments (Page 1 of 1)
2-20-2009 @ 8:08PM
Joey said...
I can't even believe this crap!!! As an ex LNT associate, I am embarrassed and applauled by this. I somehow can't help but feel like the rug was ripped out from under us!! You can be assured these companies will not uphold the integrity by which the LNT foundation was built, that being quality and exclusive brand names. These companies deal in consignments, don't be fooled!! This is NOT your mom's LNT!!!
2-22-2009 @ 3:01PM
JT said...
Oh get over yourself! Linens n Things was a chain with overpriced crappy merchandise with abominable customer service. I was glad to see it go.
If you think you could do better, open your own store and see how that goes!
3-07-2009 @ 12:06AM
shontel_peterson said...
I hate LNT I got hurt at there store and they just brushed it under the rug and I now I want them to do something about it what can I do now can someone help me or give me some advice I have had two Lawyers already and nothing is getting done