While it had seemed almost certain that Linens 'n Things would declare bankruptcy this week, they've managed to put off paying the $16.1 million in interest owed to various creditors and bondholders. This doesn't mean the company is out of trouble, it just means they've bought some time to try and figure out a solution other than bankruptcy. It also means that for now, your gift cards are still valuable for purchasing linens, and well, things. Keep your ears and eyes open for any changes in the company's status, because there's not much going for them right now with the high level of debt they're carrying, consumers spending less, and poor performance.
Around The Web
Latest Career & Money