Linens 'n Things plan effective date deadline extended to Oct. 29

By Caroline Salls

Pittsburgh, Oct. 16 - Linens Holding Co. received court approval of a fourth extension of the date by which its plan of liquidation must take effect, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the plan effective date deadline has been extended to Oct. 29 from Oct. 15.

As previously reported, Linens said since the plan's approval in June, it has worked diligently to satisfy the conditions required for the plan to take effect, but the administrative solvency condition remains unsatisfied.

Linens said in order to satisfy the condition, it has begun adversary proceedings to recover hundreds of preferential transfers.

Linens 'n Things, 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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