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Linens N Things Inc

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BUSINESS
September 15, 2005 | From Bloomberg News
A report that housewares chain Linens 'n Things Inc. may put itself up for sale helped lift shares of the company by 8.9%. The Clifton, N.J.-based retailer has hired Credit Suisse First Boston to help it study options, the Financial Times reported, citing unidentified people familiar with the matter. The shares climbed $2.31 to $28.25.
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BUSINESS
November 9, 2005 | From Associated Press
Linens 'n Things Inc., a top retailer of bedding, towels and home goods, agreed to be acquired by an investment firm in a deal worth about $1.3 billion. The deal to be acquired by a new company formed by privately held Apollo Management comes as Linens 'n Things, the nation's No. 2 home goods chain, behind Bed Bath & Beyond Inc., experiences falling profit and sales amid increased competition from retailers offering more-trendy home merchandise.
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BUSINESS
November 9, 2005 | From Associated Press
Linens 'n Things Inc., a top retailer of bedding, towels and home goods, agreed to be acquired by an investment firm in a deal worth about $1.3 billion. The deal to be acquired by a new company formed by privately held Apollo Management comes as Linens 'n Things, the nation's No. 2 home goods chain, behind Bed Bath & Beyond Inc., experiences falling profit and sales amid increased competition from retailers offering more-trendy home merchandise.
BUSINESS
September 15, 2005 | From Bloomberg News
A report that housewares chain Linens 'n Things Inc. may put itself up for sale helped lift shares of the company by 8.9%. The Clifton, N.J.-based retailer has hired Credit Suisse First Boston to help it study options, the Financial Times reported, citing unidentified people familiar with the matter. The shares climbed $2.31 to $28.25.
BUSINESS
August 15, 2001 | Reuters
Linens 'n Things Inc. said it would amend its second-quarter earnings results and take a charge of $4 million, or 6 cents a share, in connection with a class-action lawsuit by store managers in California state court over overtime pay. The household goods retailer said it would amend its earnings to reflect an Aug. 3 "offer of compromise" from the plaintiffs. The Clifton, N.J.-based company denied any liability in the lawsuit and said it would continue to defend itself.
BUSINESS
October 15, 2008 | From Times Wire Services
Specialty retailer Linens 'n Things Inc., which filed for bankruptcy protection in May, plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company. The company has about 371 remaining store locations.
BUSINESS
January 8, 2009 | Times Wire Reports
Bed Bath & Beyond Inc. said profit fell for the fifth straight quarter and lowered its annual forecast as customers flocked to liquidation sales at rival Linens 'n Things Inc. Bed Bath & Beyond, based in Union, N.J., projected earnings of $1.50 to $1.56 a share for the year, compared with $2.10 a year earlier. In September, the company said annual profit would decline in the low double digits to mid-teens on a percentage basis from 2007. Net income fell 37% to $87.7 million, or 34 cents a share, in the third quarter, which ended Nov. 29, the company said.
BUSINESS
January 15, 2009 | Andrea Chang
Add Fresno-based retailer Gottschalks Inc. to the growing list of retailers that have had to file for bankruptcy protection. The regional department store chain said Wednesday that it was seeking protection under Chapter 11 of the U.S. Bankruptcy Code and would put itself up for sale. The company said business at its stores would continue as usual during the reorganization.
BUSINESS
October 8, 2008 | From Bloomberg News
Linens 'n Things Inc., the housewares retailer in bankruptcy protection, proposed rapidly closing its remaining stores and liquidating merchandise to beat a potential wave of retail failures before the U.S. holiday season. The company asked Bankruptcy Judge Christopher Sontchi for permission to auction its remaining 371 stores on Tuesday and begin going-out-of-business sales two days later.
BUSINESS
April 18, 2002
* Calypte Biomedical Corp., best known for its urine-based HIV tests, said it's firing up to 40 employees, about half of its work force, and may go out of business if it's not acquired soon. The Alameda, Calif.-based company has been losing money for the last 12 months despite increasing sales. * Outdoor magazine Sports Afield will cease publication this spring, the victim of one of the worst advertising recessions in years.
BUSINESS
August 15, 2001 | Reuters
Linens 'n Things Inc. said it would amend its second-quarter earnings results and take a charge of $4 million, or 6 cents a share, in connection with a class-action lawsuit by store managers in California state court over overtime pay. The household goods retailer said it would amend its earnings to reflect an Aug. 3 "offer of compromise" from the plaintiffs. The Clifton, N.J.-based company denied any liability in the lawsuit and said it would continue to defend itself.
BUSINESS
March 3, 2000 | Bloomberg News; Times Staff
Shares of Wal-Mart Stores (WMT) climbed $1.56 to $50.56 on the New York Stock Exchange after the world's largest retailer reported strong February sales, raised its quarterly dividend and got an analyst upgrade. The dividend, payable April 10 to holders of record March 17, was upped to 6 cents a share from 5 cents. The Bentonville, Ark.-based chain's stock was raised to "strong buy" from "outperform" by Morgan Stanley Dean Witter. Meanwhile, an analyst at Deutsche Banc Alex.
BUSINESS
April 17, 2001 | LESLIE EARNEST, TIMES STAFF WRITER
Ailing bed and bath retailer Strouds Inc. is being sold to an Orange County investment firm and the retailer's senior executives for about $39.5 million. A U.S. Bankruptcy Court judge in Delaware has approved the sale to a venture of Cruttenden Partners in Newport Beach and the executives, Strouds said Monday. Virtually all of Strouds' management team will continue to work for the new controlling entity, Strouds Acquisition Corp., Strouds said. Robert F.
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