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Deal Journal An up-to-the-minute take on deals and deal makers.
By Deal Journal
In 2006, a group of private equity investors paid $1.3 billion to take over retailer Linens ‘N Things.
But in late 2008, the houseware retail-chain closed its doors. On Tuesday two liquidation firms, Hilco Consumer Capital and Gordon Brothers Brands, will announce they have acquired the Linens ‘N Things name. The price: $1 million.
Like a growing number of national chains, Linens filed bankruptcy last year when it was caught between an unsustainable debt load and falling sales. New Jersey-based Linens N Things posted sales near $2.8 billion in 2007, but couldn’t compete with its much larger rival Bed Bath & Beyond.
At the time of its filing in May 2008, the 589-store chain reckoned it could find new financing and emerge from bankruptcy as a smaller but more profitable company. Months later it ended up liquidating, much like other retailers Mervyn’s, Circuit City and Goody’s.
The Hilco-Gordon venture has spent more than $250 million on brand acquisitions. It will own the Linens name, its Internet domains and the company’s gift and bridal registry business. That means it could attach the Linens moniker to a mail order or catalog business or to products sold by other retailers.
This is the third retail name purchased by Hilco-Gordon Brothers, having recently bought rights to the Bombay Co. furniture chain names and then last summer the Sharper Image. Hilco has also purchased brand names such as Halston and Ellen Tracy.
“This is part of a larger strategy. This is a unique time and we intend in six months to a year to have a number of brand names,” said Bradley Snyder, principal and managing director at Gordon Brothers. “We see it as a completely opportunistic time. If not now, then when? We have virtually unlimited capital for this project.
Linens’ creditors committee will retain 25 percent ownership of the name and share in any future profits.
–Jeffrey McCracken (source:blogs.wsj.com)
In 2006, a group of private equity investors paid $1.3 billion to take over retailer Linens ‘N Things.
But in late 2008, the houseware retail-chain closed its doors. On Tuesday two liquidation firms, Hilco Consumer Capital and Gordon Brothers Brands, will announce they have acquired the Linens ‘N Things name. The price: $1 million.
Like a growing number of national chains, Linens filed bankruptcy last year when it was caught between an unsustainable debt load and falling sales. New Jersey-based Linens N Things posted sales near $2.8 billion in 2007, but couldn’t compete with its much larger rival Bed Bath & Beyond.
At the time of its filing in May 2008, the 589-store chain reckoned it could find new financing and emerge from bankruptcy as a smaller but more profitable company. Months later it ended up liquidating, much like other retailers Mervyn’s, Circuit City and Goody’s.
The Hilco-Gordon venture has spent more than $250 million on brand acquisitions. It will own the Linens name, its Internet domains and the company’s gift and bridal registry business. That means it could attach the Linens moniker to a mail order or catalog business or to products sold by other retailers.
This is the third retail name purchased by Hilco-Gordon Brothers, having recently bought rights to the Bombay Co. furniture chain names and then last summer the Sharper Image. Hilco has also purchased brand names such as Halston and Ellen Tracy.
“This is part of a larger strategy. This is a unique time and we intend in six months to a year to have a number of brand names,” said Bradley Snyder, principal and managing director at Gordon Brothers. “We see it as a completely opportunistic time. If not now, then when? We have virtually unlimited capital for this project.
Linens’ creditors committee will retain 25 percent ownership of the name and share in any future profits.
–Jeffrey McCracken (source:blogs.wsj.com)
plötzlich zukommt auch unser essverhalten wird zahllose reize bestimmt dies betrifft unsere auswahl nahrungs- genussmitteln menge verzehren zeitpunkt hungergefühl entwickeln kann sagen dass wenigsten bezug nahrungsaufnahme bewusst gesteuert werden stimmt wissenschaftliche untersuchungen haben eindeutig festgestellt zutrifft dann vorausgesetzt Übergewicht zumindest großen teil solchem reflexartigen verhalten resultiert diese erkenntnisse aber für eine gewichtsreduktion nutzen dazu muss programm welches geführt lediglich umgeschrieben gelöscht gelingt müsste automatisch abnehmen können stellt frage gelingen zunächst auslösenden kennen oder knöpfe finden bestimmte auslösen meisten menschen glauben nicht schwer sein sollte denn letztlich entscheiden wann viel essen weit gefehlt sind sondern entscheidungen gefällt ihrer erfahrungen ihren gewohnheiten