Linen ‘n Things is a famous online retail store that deals in home textiles, decorative home accessories, and housewares. Before Linen ‘n Things became an online retail store, it used to have physical stores scattered around Canada and the United States. As a chain of retail stores that Linen ‘n Things was, it had its headquarters in Clifton, New Jersey, United States. This chain of store operated by Linen ‘n Things was in 47 states in the United States and was made up of 571 retail stores. That’s not all, as a chain of retail stores, Linens ‘n Things had 7,300 people under its pay role.
As a firm, Linen ‘n Things was focused on various types of branded home furnishing stock for very affordable prices. This was in addition to making top quality guest services available and operating at a low cost.
Linen ‘n Things actually began as a physical store, it, however, moved on to become an online retail store. After being launched as an online retail store, it had a change of website and directed customers to its new website from the previous website.
Sale of Linens ‘n Things
Although this firm began as a public firm, it became privately owned after it was acquired by Apollo Global Management for $1.3 billion in 2006. After its acquisition, a lot changed with Linen ‘n Things. This change was not only evident in the way it was run. It was evident in the new faces in charge of running it. After the acquisition of this firm, Robert (Bob) DiNicola took over the position of CEO from Norman Axelrod. The change in those at the helm of affairs did not end with a change in CEO. The position of President, as well as that of executive Vice President of Marketing, were also changed with F. David Coder and Omer Fancy becoming president and executive Vice President of Marketing.
After running for 23 years, Linens and Things shut down 120 stores and filed for Chapter 11 bankruptcy. Although Linens ‘n Things filed for bankruptcy in 2008, it was not planning to stay bankrupt for long as it already had plans in place that would take it out of bankruptcy in 2009. Included in this plan was an intention to reverse a lot of the strategies executed with the arrival of a new owner. When Linens ‘n Things functioned as a public firm, it pursued a low price model which was no longer the case with its acquisition and was clearly affecting its success.
After what can best be described as a rough by people, Linen ‘n Things made an announcement that it was concluding the closing sale of its primary online store and after this, it would keep its website open. Just like it went through acquisition in 2006, in 2013, Linen n’ Things was bought by Galaxy Brand Holdings. After being bought, its new owner continued to focus on the things Linen ‘n Things had as its focus while it operated as a chain of physical stores.