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Linens 'n Things bankruptcy case to be converted to Chapter 7
By Caroline Salls
Pittsburgh, Feb. 24 - Linens Holding Co. was granted court approval Wednesday to convert its Chapter 11 bankruptcy case to Chapter 7, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.
The case conversion will take effect at 5 p.m. ET on Friday.
The company does not have sufficient liquid assets to fund its Chapter 11 cases, according to the motion filed last week.
Linens, a Clifton, N.J., home furnishings specialty retailer, filed for bankruptcy on May 2, 2008. Its Chapter 11 case number is 08-10832.
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