RCS Real Estate raises close to $2,000,000 for bankrupt Anna's Linens at auction

RCS Real Estate Advisors announced today that it secured almost $2,000,000 at auction for home goods chain Anna's Linens, which filed for Chapter 11 on June 14.



"RCS concluded a successful auction generating close to $2,000,000 for the debtor's estate by selling leases and sub-letting to temporary users as Halloween stores," said RCS Real Estate Advisors senior VP Spence J. Mehl. "A highly successful outcome based on initial expectations of value."



The results of the auction have been approved by the United States Bankruptcy Court for the Central District of California (Santa Ana Division).



The Costa Mesa, California-based retailer of bedding, bathroom accessories, window treatments and more operated over 200 stores with over 2,800 employees when it filed for bankruptcy earlier this year.



According to the Wall Street Journal, Anna's Linens filed for chapter 11 protection in 1993 and emerged the following year.