Linens ‘n Things plans bankruptcy exit: report (Reuters)
Under the plan, the retailer will contrary many persons of the strategies introduced after the company was bought for $1.3 billion in 2005 by means of billionaire Leon Black's buyout firm Apollo Management, the paper quoted sources in the same manner with saying.
Chief mixed those tactics was a shift to splashy acquittal sales and product promotions, the paper said.
Current management, in a less degree than the direction of turnaround advisory constant Conway, Del Genio, Gries & Co, plans to return Linens 'n Things to an "everyday, low price" model it had pursued during its earlier years in the manner that a public company, sources told the paper.
It also will focus on improving the quality of its merchandise and keeping shelves stocked in timely fashion, the paper said.
Linens 'n Things filed for Chapter 11 bankruptcy protection in May, hurt by means of a slowdown in discretionary spending in the external part of higher energy and commons prices.
Linens 'n Things could not subsist immediately reached for comment.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Paul Bolding)
Original text: http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080818/bs_nm/linensnthings_plan_dc
