Linens 'N Things earns vendor support

CLIFTON, N.J. Linens 'N Things announced that it has obtained the support of many key vendors for its Trade Vendor Payment Program, approved by the United States Bankruptcy Court for the District of Delaware last month.

Springs Global US, the Yankee Candle Company, Croscill Home Fashions, and M. Block & Sons, four major suppliers of merchandise to the company, have now agreed to participate in the Trade Credit Program, which provides letters of credit of up to $100 million. The company has agreed to limit participation in the Vendor Program to $100 million. To date, over 40 vendors have signed up for the Vendor Program.

“We are very appreciative of the widespread support shown by our vendors as we progress with our restructuring and head into the busy fall shopping season,” said Michael Gries, chief restructuring officer and interim ceo. “The Trade Vendor Payment Program is critical to maintaining positive relationships with the trade community, as we provide our customers with the wide assortment and depth of quality merchandise they expect from Linens ‘N Things.”