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20-25 employees will lose jobs in Falls. Aurora site also to close
Published on Wednesday, Jun 04, 2008
Beacon Journal staff report
The Linens 'n Things store in the Chapel Hill area is in the process of hanging it up.
The Cuyahoga Falls store is among 120 nationwide that Linens 'n Things parent company Linens Holding Co. is shuttering as part of a restructuring plan under Chapter 11 bankruptcy protection.
The Aurora location in Bainbridge Commons also is closing, according to the company.
The closures will mark the home furnishings chain's departure from the Akron market.
A bankruptcy court in Delaware approved the start of liquidation sales last week. SB Capital Group LLC and Tiger Capital Group LLC were appointed to conduct the inventory liquidation.
Liquidators began marking down prices by 10 percent to 25 percent throughout the Cuyahoga Falls location on Saturday, according to a department manager at the store.
The city was not aware that Linens 'n Things is closing, said Susan Truby, Cuyahoga Falls community development director.
''I think it's always disheartening to see any business go out of business,'' she said.
However, she added, the Howe Road area continues to thrive, with ''a good mix of restaurants and retail.''
Truby said she's confident another retailer will move into the area to fill the vacancy after Linens 'n Things closes.
''It's a destination spot and it tends to do pretty well,'' she said.
The department manager said a closing date has not been announced.
The store employs about 20 to 25 people, the manager said.
''The decision to close stores was difficult but necessary to improve LNT's financial position and place the company on a firmer financial footing as we move forward,'' Linens Holding Executive Chairman Robert J. DiNicola said in a prepared statement. ''We will be able to realize important cost savings and operational efficiencies as a result of this process, allowing us to serve all our constituencies more effectively.''
The chain operates more than 500 stores in 47 states and six provinces across the United States and Canada.
Get the full article here.
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