Better terms in new LNT credit facility   

Clifton, N.J. — Home furnishings specialty retailer Linens ’n Things (LNT) has entered into a new $700 million credit agreement with GE Capital Markets, replacing its previously existing $700 million facility, which was made with UBS Securities.

LNT said the new facility has “materially improved terms” relative to the former facility – including “increases in its advance rates on inventory and accounts receivable for its borrowing base computation as well as the elimination of all financial maintenance covenants.”

The 580-store retailer said liquidity position will be “significantly enhanced,” and noted, “All of the agent banks in the company’s former credit facility continue to be participants in the new credit facility.”

The parties to the facility are Linens ’n Things, Inc.; Linens ’n Things Center, Inc.; and Linens ’n Things Canada Corp.; which are each wholly-owned subsidiaries of Linens Holding Co.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!