Investment Firm to Buy Linens ‘n Things
- Share via
Linens ‘n Things Inc., a top retailer of bedding, towels and home goods, agreed to be acquired by an investment firm in a deal worth about $1.3 billion.
The deal to be acquired by a new company formed by privately held Apollo Management comes as Linens ‘n Things, the nation’s No. 2 home goods chain, behind Bed Bath & Beyond Inc., experiences falling profit and sales amid increased competition from retailers offering more-trendy home merchandise.
William Giles, chief financial officer at Clifton, N.J.-based Linens ‘n Things, said the acquisition wouldn’t alter company plans to open 30 stores next year.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
