Linens 'n Things selects lead going-out-of-business sale agent bid

By Caroline Salls

Pittsburgh, May 19 - Linens Holding Co. has selected an offer from Tiger Capital Group, LLC and SB Capital Group, LLC as the liquidating agent stalking horse bid in connection with Linens' proposed going-out-of-business sales, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

If the stalking horse bid is not the high bid at the May 29 auction, Linens will pay Tiger Capital and SB Capital a $2 million break-up fee and up to $500,000 for expense reimbursement.

A hearing on approval of the stalking horse bid is scheduled for May 20.

Linens 'n Things, a Clifton, N.J., home furnishings specialty retailer, filed for bankruptcy on May 2. Its Chapter 11 case number is 08-10832.

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