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My Wife’s Sad: Linens ‘n Things is Closing
By JLP | October 20, 2008
I found out over the weekend that Linens ‘n Things is going out of business. This made my wife sad as she liked LNT better than Bed Bath and Beyond. The news actually surprised me because I thought some company would take them over. I think it just proves two things:
1. Linens ‘n Things must have been in really bad shape financially.
2. The credit crisis probably made financing such a purchase nearly impossible or too expensive.
Unfortunately, losing Linens ‘n Things is going to leave a big gaping hole in our mall. I bet they won’t be the last ones to leave either.
While we’re talking about malls, has anyone noticed that their mall is becoming a bit of a flee market with all the merchants setting up shop in the vacant stores without doing any sort of renovation? They’ll throw up a card board sign, leave the old dirty carpet, roll in some racks, and set up a temporary cash register and start a business. I guess it shows just how desperate mall owners have become.
Topics: Miscellaneous | 12 Comments »
October 20th, 2008 at 11:40 am
Yes, folks have been known to “flee” the market when they see a crummy “flea” market
Just giving you a hard time, JLP! Are you appearing on CBS tonight?
October 20th, 2008 at 2:48 pm
Our malls in Omaha are dwindling, also. Over the past year, it seems there are more vacant spaces than occupied ones.
I’m wondering, besides the economy, if some stores are moving towards online purchases only…saving payroll, rent, utilities, etc. Besides, I know a lot of people that only shop online (besides when they need groceries); in an effort to save time and gas money. This thought poses the question…could some retail outlets survive these economic times if they sold their goods online ONLY vs. in a physical store setup? (Of course, this would mean dramatic job losses, but aren’t we facing that already?)
October 20th, 2008 at 4:58 pm
“While we’re talking about malls, has anyone noticed that their mall is becoming a bit of a flee market with all the merchants setting up shop in the vacant stores without doing any sort of renovation?”
That would be the mall in MY fair town, yes. Ugh. I’ve noticed that the mall (there’s only one in my little burg) is hosting quite a few “crafts” fairs, with folks setting up tables and booths in already cramped passages and selling all sorts of bits and pieces. I wouldn’t mind so much if the fairs featured true crafts like handmade quilts, wooden boxes or homemade jellies (like the crafts fairs I remember from when I was a kid), but it seems as though almost all of the booths feature prefab junk like lamps with Elvis on the shade and cheap costume jewelry of the sort one can buy at any dollar store. Aaaargh …
October 20th, 2008 at 5:31 pm
You think your wife is sad. How about the thousands of people will be out of jobs in the comming weeks. It’s a pretty crummy situation because it was a great place to work. I just hope all the good people can find jobs and stay on their feet. This is the wrong time of year to find a job when the economy is doing well (unless you want seasonal store jobs) let alone in this economy we have. Pretty funny how LNT was debt free 2 years ago when Leon Black’s company purchased it. One casino later, a bunch of bad decisions and a plumetting economy and it’s all over johnny. It’s really quite sad.
October 20th, 2008 at 7:24 pm
I must be a tough shopper – I pretty much only shop online, but not to necessarily save on time/gas – its because I have NEVER found an item in person that was cheaper than a store online. Some exceptions are things like games for the Wii, they’re pretty much $50 everywhere (or $60 at some retail stores!), but even so, I can bundle in a $47 game into an order and viola…it shows up a few days later.
LNT was SOOOOOOOOOOOOO expensive in my mind when we registered. I was very surprised to see the prices of things there, at BB&B and places like Macy’s…How do people shop there?
October 20th, 2008 at 9:21 pm
Oh Preston, items on the clearance table, coupled with LNT or competitor coupons, was a shopper’s dream! I, too, will miss LNT. However, as an “old” bride, my household is now pretty well established, but it was fun in my younger days!!
October 20th, 2008 at 9:40 pm
Another retail store closing, this is not surprising. They will start going don just like the banks because that is how our economy operates, on a spiral. Up next, my guess is Bed Bath and Beyond
October 20th, 2008 at 10:25 pm
“Oh Preston, items on the clearance table, coupled with LNT or competitor coupons, was a shopper’s dream! ”
A typical example would go like exactly like you mentioned – clearance + coupon. Yet, even with “70% off” and a coupon, the price still often cannot match various online places!
October 21st, 2008 at 5:19 am
Donny, I’m curious…why would you think that Bed Bath & Beyond is going to go out of business? The company is extremely profitable, they have no debt, and they continue to expand rapidly, especially with their new divisions (Christmas Tree Shops and Buy Buy Baby). While Linens going out of business sales will hurt them short term, Liens permanent closing will make them much stronger long term. You don’t agree?
October 21st, 2008 at 9:36 am
I won’t even notice. I just don’t shop anymore. I live in the middle of a large city and I don’t really set foot in those stores mainly cause they are all in the suburbs. I couldn’t tell you where a LNT or a Bed Bath and Body is in my town. I’m moving to a smaller city soon (town of 150,000) and I’m sure I’ll be forced to go to stores like that more often, but I just don’t like to shop. It really isn’t a surprise that retailers are feeling the pinch. I often wondered who all was shopping at these stores anyway.
October 21st, 2008 at 12:51 pm
LNT deserves to fold up, their stores were always dirty, unorganized, poorly stocked and highly priced. Bed, Bath and Beyond, their competitor, sold the same or similar items at cheaper prices, in a clean store with helpful employees.
October 21st, 2008 at 9:28 pm
i liked lnt because i could always get 20% off just by telling them i had a coupon. they would always give it to me…