Linens 'n Things backs out of OV Marketplace - Tucson Local Media: Business

Linens 'n Things backs out of OV Marketplace

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Posted: Tuesday, August 5, 2008 11:00 pm

A national home-furnishing retailer has announced plans to close more than 50 stores, including six in Arizona.

In addition to the closings, a representative with New Jersey-based Linens ’n Things said the company intends to place new store openings on hold.

“There will be no store openings for the foreseeable future,” said Rich Tauberman of MMW Group, the company’s public relations firm.

A planned store under-construction at the Oro Valley Marketplace also has been scuttled.

“Linens ’n Things has rejected their lease,” said David Malin, project manager with the development firm Vestar.

The company is building the 110-acre shopping center at Tangerine and Oracle roads in Oro Valley.

Malin said his company has spent up to $2 million building the 28,000-square-foot store that now is without a tenant.

“It’s a very unfortunate circumstance of what’s going on in the economy today,” Malin said.  

Linens ’n Things operates 589 stores in the U.S. and Canada and made $2.8 billion in sales for 2007, according to its corporate Web site.

The company filed for Chapter 11 reorganization in May when it announced the possible closure of 120 stores.

While the company has scaled back that store-closure figure to 57, it still plans to close a store at 5925 E. Broadway Blvd. on Tucson’s east side.

A Northwest store at 7475 N. La Cholla Blvd. is not on a list of planned closures.

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