Linens 'n Things

(Newser) - For big, public companies, it's a good time to be bankrupt. With earnings skyrocketing—77% of the S&P 500 has beaten expectations so far this quarter—a lot of companies that had been left for dead suddenly have life, and their shareholders have a fighting chance of keeping their...

(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...

(Newser) - Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are...

(Newser) - Linens ‘n Things ls expected to file for Chapter 11 by Tuesday, the deadline for a $15-million quarterly debt payment, the Wall Street Journal reports. The move would make the home-furnishings giant the first major retailer sunk by the housing crisis, after bloated debt and plummeting demand handed the...