Three Mass. stores to close in Linens 'n Things bankruptcy
Linens 'n Things at the Independence Mall will close after the company declared voluntary bankruptcy in the United States as part of a financial restructuring plan.
The home furnishing chain Linens Holding Co. has announced that 120 "underperforming" stories will close, including the store at the mall in Kingston. Stores in Lanesboro and Seekonk will also close in Massachusetts.
Independence Mall General Manager Mark Wagner said it's disappointing that the Kingston store will be one of the 120 around the country to close.
"Unfortunately, one of them is the one here," he said.
In a press release, Linens Holding Co. Executive Chairman <span style="color: black;">Robert DiNicola said the closing of the 120 stores will help the company realize important cost savings and operational efficiencies.</span>
"The decision to close stores was difficult but necessary to improve LNT's financial position and place the company on a firmer financial footing as we move forward," he said.
Wagner said the mall ownership will move quickly to fill the space left by Linens 'n Things. A closing date has not been announced.
With Linens 'n Things, Wagner said the mall is 92 percent occupied and dismissed rumors that the mall might close.
"We're here for the long term," he said.
Old Navy has a year left on its lease with the mall. The clothing retailer, however, will soon open a new store at nearby Colony Place in Plymouth. <span style="color: black;">Bass and Van Heusen are moving into Colony Place this summer.</span>