Shopping blues

Filed for Chapter 11 protection on May 2, 2008

Like most retailers catering to homeowners, Linens `n Things suffered as housing sales declined: the chain reported $249.1 million in losses last year. Since announcing in May that it would close 120 underperforming stores, Linens `n Things has revised that estimate several times--the latest number is 177, which would leave more than 400 locations running. The retailer hopes to revive sales by rethinking past turnaround strategies, which included major sales and promotions. Help is on its way from vendors: Yankee Candle, Springs Global and others have agreed to continue supplying the chain in exchange for credit.

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