Equity firms looking at Linens 'n Things
By Jim Donnelly, Ottawa Business Journal Staff
Fri, Oct 3, 2008 7:00 AM EST
New York-based NRDC Equity Partners is reportedly in talks to purchase the 37 Linens 'n Things stores in Canada, as the home retailer's parent company in the U.S. faces liquidation.
Talks have reportedly also occurred with Hilco Consumer Capital, a Toronto-based private equity firm, as the retail giant struggles towards insolvency.
Linens 'n Things' future was thrown into chaos last month after Cerberus Capital Management scrapped a bid to buy the chain. Apollo Management, which along with a consortium of investors bought the company for $1.3 billion in 2006, filed for bankruptcy protection for Linens 'n Things in May.
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