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Now that you need a bigger mattress to hide your life's savings, maybe it's time to stock up on new sheets. If so, then head over to bankrupt Linens 'n Things Inc. stores for its liquidation sale, which will begin Friday. The Clifton, N.J.-based retailer was forced to liquidate after it failed to find a buyer -- much to the dismay of its private equity owner Apollo Management LP.
A group of liquidators -- Gordon Brothers Retail Partners LLC, Hilco Merchant Resources LLC, SB
Capital Group LLC, Tiger/Nassi Group, Hudson Capital Partners LLC and Great
American Group LLC -- offered $475 million for the company and were the only buyers at the bankruptcy auction.
According to Reuters, Linens' remaining 371 stores in the U.S. will throw in the towel after the going-out-of-business sales. The joint venture of liquidators running the store closing sales have marked down all of the inventory up to 30% off in an effort to close the stores in less than 11 weeks or by Jan. 1. Apollo Management bought the retailer in a $1.3 billion leveraged buyout in 2006. Linens filed for bankruptcy protection in May, and it has already closed around 200 locations during the bankruptcy. - Maria Woehr CategoriesComments
From: dawn,
I just went to Linen & Things for a George Foreman grill. It is a going out of business sale where they have literally added 30 dollars to the item I wanted, so I could take a 10 dollar discount. Among the extremely rude sales people, I found a grill for 69.99, the original price. It was a gross mistake, and I got yelled at for finding it, and they refused me any discount.
Posted on:
October 18, 2008 8:28 PM
From: Tom,
I bought 2 items from Linen & Things and realized that it is pointless to buy from them when they mark up their prices just to offer discounts. I didn't bother checking the discount that was given but I bought an electronic item that was suppose to be 40% off but then when I got home I found out it was only 20% off. I called and the manager told me that the item I bought is a seasonal item so it only qualifies for 20% off when right above the product there is a sign that says all electronics are 40% off. When I went online, the same item is for sale at Bed Bath & Beyond cheaper then the discounted price I paid. I say let them go out of business and take a big loss from their scandalous marketing scheme until they learn that consumer should not be tricked. Eventually when closer to January when they actually closed their door, the prices will drop probably 60%.
Posted on:
October 31, 2008 12:28 PM
From: gayle,
i had a similar experience at the newnan store because i have been waiting on something to be marked down further. i was surprised to find that all of the clearance prices had been marked out and replaced with 20 or 30 percent discounts. i asked one of the sales people and she explained that the company who now owns them mandated this so that they can get as much as they can while the stores are open. she said that for them, it's better to just throw this junk away and write it off than to sell it at really reduced prices. so, don't take it out on the store. if you get a rude person, that's too bad but it isn't the store's policies in question.
Posted on:
November 25, 2008 10:53 AM
From: FRANK,
We say a bathroom cabinet at Linens and Thing that we thought would look nice in our bathroom. It was only 10% off but we had gift cards to use up. There was a tag on the cabinet that said $79.99. I took a closer look and there was a sticker on the cabinet that said $59.99. On the box you could see that the $59 price was covered with a $79 sticker. So we took the cabinet to the counter and insisted on the $59 price plus the 10% and they did. There should be a law to protect consumers that are vulnerable.
Posted on:
November 25, 2008 10:23 PM
From: Brooke,
After reading all the comments here, I am now realizing the original proce of 59.99 is probably a big mark-up anyhow. I just researched online for average price of comparable items and it is exactly what I paid AFTER their 'blowout' discounts. Guess thats what I get for an impulse buy, 'thinking' it was going to be a good deal. It would have been ok if they had actually honored the mispriced amount! My experience is below. I have blogged it on any complaint website I can, I recommend everyone else doing the same! This afternoon I stopped in to see if there were any deals to be found at my local store and came across a sign that offered a dish drainer set reg. price of $59.99, now $26.99. Being that I have no dishwasher and the rack my landlord provided is seriously lacking for space, I thought this was the perfect opportunity to purchase a helpful item at a reasonably discounted price. Now there were many different kinds of dish drainers offered under this same brand name, but only one of them with the original price of $59.99. That was the one I grabbed and happily toted up to the register. Neither on the credit card swiper or the clerks register screen did it show me the price of each item. The register screen was so small of print you would need a magnifying glass to see it clearly from the customer side of the counter. So when I got my receipt and reviewed it, i was charged 35.99 for the dish drainer. I promptly brought this discrepancy to the attention of the cashier and she debated with me for a second and then went to get 'someone else'. 'Someone Else' came up and the clerk explained the signage discrepancy and she went back to investigate. After a few minutes she came back to the register with the sign itself and pointed at the item description: '6 piece drainer set'. She said since that didn't match the 5 piece item I had purchased, there was nothing she could do for me. I informed her that the items under the sign was the exact item I selected and I verified that by the item reg. retail price that was listed on the sign. Obviously there was a discrepancy one way or another with the sign in general. Either it was listed with the wrong description OR the wrong reg. price. As a customer I felt that due to this obvious error, they should honor which ever option the customer was purchasing. Because it covered an error for both portions of the signage. The burgundy haired lady just kept repeating herself pointing to the 6 piece set and my 5 piece set, like I didn't' hear her the first time. That wasn't the point, in my mind. If a business' employee improperly signs an item, it is generally understood (at least in my experience) that if it fits the item you are purchasing, it is honored and then they go fix the sign so it doesn't happen again! Not just tell the customer over and over and over again that its not the 6 piece set. How do I know which item they meant it to be? The wrong description or the wrong price? Needless to say I will not shop any of the remainder of this 'going out of business' sale and am glad they won't be around to continue to frustrate future customers much longer!
Posted on:
December 4, 2008 11:35 PM
From: Mare,
I purchased a warming blanket on Dec 1 when the sign on the warming blankets said 40% discount.
Posted on:
December 5, 2008 12:24 PM
From: sarah,
I have $140.00 dollars on gift cards from linen and things that I can't use. There is no store in my area and they won't take them online. I have been trying. I call the company and they told me to write a letter. I just want to use my gift card. I purchased them in good faith, some time ago. I should be able to use them.
Posted on:
February 1, 2009 1:49 PM
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Consumers should have the legal right to use coupons until Gordan and Company advertises that they do not accept coupons. I am contacting the Attorney General for my State regarding this consumer affairs issue. It is not right to have the consumer get a basket full of items and after items have been rug up and ready to pay that she is informed by cashier at that late time, that they do not accept coupons due to Gordan and Company taking over Linens and Things.
Thank you,
R NcDonald
mcdonaldrv@mindspring.com