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Thursday, November 20, 2008

Recession coming home?

Posted on Thu, Nov 20, 2008 at 7:09 PM

International bedding-bath-dining one-stop shop Linens 'n Things filed for bankruptcy in the spring. The hope was to restructure its debts, close its worse performing stores and find a buyer for the rest, but with the global financial meltdown, no one's willing to front the dough, even if a buyer could be found.

The retailor is so cash poor that it's not even trying to make it through the busy Christmas season; all 371 of its stores, including the local one (45 Lemlair) are being liquidated. There are great deals to be found---everything's 20 to 50 percent off, and even the shelving and equipment is for sale. This is the first major hit on Dartmouth Crossing, and we can't help but wonder what it says for the overall health of the retail scene; we especially worry for the independent businesses that drive our local economy.

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