LNT Looking for Best Path Forward

By Staff -- Gifts & Decorative Accessories, 4/22/2008 10:57:00 AM

Clifton, N.J. – The law firm of Otterbourg, Steindler, Houston & Rosen, P.C. has been named to head up an ad hoc committee formed last week by major suppliers to Linens 'n Things (LNT). 

Home Textiles Today (HTT), the textile industry's leading trade publication, reported that the beleaguered retailer, which sells a diverse array of gifts in its stores as well as online, acknowledged that its major suppliers have formed an ad hoc committee to discuss merchandise delivery arrangements as well as financial issues.

LNT said the committee is represented by the law firm of Otterbourg, Steindler, Houston & Rosen, P.C. and financial advisor Carl Marks Advisory Group. According to HTT,  Robert DiNicola, the retailer’s chairman and CEO, said in a statement the company is working with the group as well as an ad hoc group of noteholders “to determine the best path forward for LNT.”