The End Of Things
Well, at least the things sold alongside the linens. That’s right, Linen ‘n Things is a goner.
Their attempt to auction the business after declaring bankruptcy in May failed (hard to have an auction with no bidders) so the remaining 371 stores will close by the end of the year, if not sooner. So that means we’re in store for some major sales as they desperately try to liquidate all the merchandise. But be warned: as their website now screams – all sales are final!
I guess this means we’re all about to become better friends with Bed, Bath & Beyond.
Image found here
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OK, when I read the title of your post my first thought was that it was the end of Young House Love. And I have to say that I felt a little panicked. Whew! So sad for LNT too. BB&B is closer to me so I usually go there but the competition between the two is better for we consumers.
There is a LNT by our house with a big sign out front. But I didn’t realize the entire chain was going out of business.
It’s true. I was at the Virginia Beach store this morning… but right now the sales are a little chintzy. Just 10-30% off. Not enough of a bargain yet for me! I’ll wait until next week & hopefully they’ll drop the prices more… I’m just hoping everything isn’t too picked over by that point!
The one around me in NH has been going out of business for about a month. The sales are now at 40-60% off, but be forewarned: those LNT peeps are tricky. I had bought a bunch of Nate Berkus bedding on clearance at 50% off BEFORE they announced the store closing. When I went back to get more AFTER the announcement, they had taken all the clearance stickers off the Berkus collection and it was now only reduced to 10% off. :( Bad business LNT. I have also noticed a few high priced stickers covering other lower priced stickers (meaning they slapped higher price tags on things before they marked em down). I was very disappointed in their practices.
Anyhoo… good luck bargain hunting!
~Stacy
My family owned a small business several years ago. When we liquidated we hired a company to walk us through it. They told us to raise the regular price and then start with taking a small percentage off of that price. We were able to do several price reductions and still make a profit. It worked well for us, but has made me leery of liquidations sales ever since. If you need it, great…but you really aren’t getting that good of a deal.
I wonder if that means the ones in Canada too? I haven’t heard anything yet…
The one near me closed in August in the first round and I didn’t find great deals until near the end when things started hitting 70-80% off.
Yes, I had read about this in Time or Newsweek. And I
saw that ours down the road had the big signs. Too bad.
I liked them. Wanted to mention that I have to hit
Return or my sentence goes off the page into I don’t
know where!
Brenda
We have a few LNT in the Portland, Oregon area and we had one close in the summer. It took them a few months before it was to 70% off, but they were some great deals. Unfortunately, this is just another sign of the way things are going. Hopefully, everyone votes and picks a president who can turn this all around.
Sorry to panic you, Amy! We’re sticking around so don’t worry.
We drove by ours today (which survived the first round of closings back in May) and – as you all mentioned – it’s announcing 10-30% off all items for now. Big whoop. But it’s nice to hear that things will get more discounted as time goes on (and they get more desperate). I guess at this point they’re trying to make us much moolah out of the liquidation as possible. Very interesting insight, Teresa, btw.
I agree with Alysia that I sincerely hope whomever takes office in January is the right guy to turn this all around. Fingers crossed!
-John
I hadn’t heard of this!!! I guess I’ll have to pop in and check out the sales!! Thanks for the notice!!
I know this is all way in the past now, but just FYI in case people are interested for future big chain liquidations: A big chain like LNT isn’t actually in control of its own liquidation – they get taken over by a company that specialized in liquidating retail stores. That’s why everything looks the same, whether it’s LNT or Circuit City! The first thing they do it put EVERYTHING at its real Suggested Retail Price and discount it just 10%, removing any previous discounts, even though a lot of items were never sold at that high a price to begin with. So at the very beginning of a liquidation, almost everything in the store actually costs MORE than it would have regularly. I guess they’re hoping by advertising the liquidation, plenty of people will assume they’re getting a better price and not actually think too hard to notice that they’re not! You really have to wait until the end to get the good deals. And even then, buying an old display model at a regular store can often be a better deal – like the unnoticabely dented SimpleHuman trash can the hubs scored from Lowe’s, or the $2 glass pitcher I got from LNT years ago. Happy shopping, everyone!