Linens 'n Things intellectual property sold to Hilco, Gordon Brothers joint venture

By Caroline Salls

Pittsburgh, Feb. 6 - Linens 'n Things' intellectual property has been sold to a joint venture led by Hilco Consumer Capital, LP and Gordon Brothers Brands, LLC, according to a news release.

The sale includes the established Linens 'n Things brand name, its bridal and gift registry businesses, all internet domains and a number of proprietary brands, including, Luxe Versailles, Attitude, Super Set, Cook at Home and Hotel Living.

According to the release, Linens 'n Things will relaunch under new stewardship in early 2009 as a global licensed brand, and the strategy will include a combination of retail shop-in-shop, direct-to-retail licensing, wholesale licensing by category and geography, as well as e-commerce.

The joint venture said this will enable Linens 'n Things to branch outside the confines of a single retail chain and onto the shelves of leading retailers throughout the world, including Canada where the company ran a highly profitable chain of 40 stores doing more than $300 million in annual sales.

"Linens 'n Things built an enormous customer following throughout its 34-year history that very few home textiles and housewares brands have achieved," Hilco chief executive officer James Salter said in the release.

"We're extremely pleased to partner with Gordon Brothers to reinvigorate a brand that did more than just sell home products and accessories - it inspired loyal customers to create unique personal living spaces."

Linens 'n Things, a Clifton, N.J., home furnishings specialty retailer, filed for bankruptcy on May 2, 2008 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-10832.

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