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Linens Revisited

By Staff -- Gifts and Dec, 2/4/2009 9:02:00 AM

New York — Hilco Merchant Services and Gordon Brothers Retail Partners acquired the rights to Linens 'N Things name and logo, Internet domains and gift and bridal registry business for roughly $1 million at a bankruptcy auction, as well as proprietary brands including Luxe Versailles, Attitude, Super Set, Cook at Home and Hotel Living. The home retail chain closed last October after declaring bankruptcy in May.

The same investment companies have already done the same with The Sharper Image and Bombay Company. Linens’ creditors committee will retain 25 percent ownership of the name and share in any future profits.

"Linens 'N Things will relaunch under new stewardship in early 2009 as a global licensed brand. The strategy will include a combination of retail shop-in-shop, direct-to-retail (DTR) licensing, wholesale licensing by category and geography, as well as e-commerce," the purchasers said in a statement.

“This is part of a larger strategy. This is a unique time and we intend in six months to a year to have a number of brand names,” the Wall Street Journal quoted Bradley Snyder, principal and managing director at Gordon Brothers, as saying. “We see it as a completely opportunistic time. If not now, then when? We have virtually unlimited capital for this project."

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