Retailer Linens ‘n Things will close 120 of its 589 stores - including one each in Tempe and Yuma - as part of a Chapter 11 bankruptcy reorganization the company filed May 2.
The stores being closed are underperforming. The company, based in Clifton, N.J., was acquired by private equity firm Apollo Management LP for $1.3 billion in February 2006. The company said it has secured $700 million in debtor in possession financing from General Electric Capital Corp.
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There are currently 18 Linens ‘n Things stores in Arizona, including 7475 N. La Cholla Blvd. in Foothills Mall and a stand-alone store at 5925 E. Broadway.
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