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Linens N Things Essay

1220 Words5 Pages

Linens ‘N Things (LNT) founded in 1975 by Eugene Kalkin had experienced impediments within its 31 years. The impediments came from the rapid expansion of the company within compacted periods of time. The consultant group came up with three different tactics in dealing with this problem. The first was a restructure of LNT changing from a vertical to a horizontal firm. The following idea was to downsize the company to become financially manageable. Finally, we came up with the idea to downscale, restructure, and in addition, add e-commerce. To come up with these approaches, an analysis of the company as a whole from its’ founding to recent, 2006. We compared LNT statistics and history with Bed Bath & Beyond, the top company in Home Textiles …show more content…

In 1999 LNT received a second distribution center in southern New Jersey (Doede & Nickman-Retana, 2010). LNT show mass store expansion between from 2000-2004. In 2000 LNT “opened 57 stores in 6 of which in Canada” (Doede & Nickman-Retana, 2010. p. 53). LNT in 2001 had “10 stores in California, 3 more in Canada” (Doede & Nickman-Retana, 2010, p. 53), and 50 in various states. LNT in 2001 also had “implemented strategic planning to improve store performance and closure of underperformed stores” (Doede & Nickman-Retana, 2010. p. 53). LNT acquired an “additional distribution center in Kentucky” (Doede & Nickman-Retana, 2010. p. 53). 2002 LNT introduced “private label credit card system and had created 55 more stores and closed 7” (Doede & Nickman-Retana, 2010. p. 53). LNT in 2003 in order to” improve store performance added higher-quality [of] brands” (Doede & Nickman-Retana, 2010. p. 53) to their stores. They also “opened 58 new stores and had 9 closed” (Doede & Nickman-Retana, 2010. p. 53). In 2004 LNT “opened 54 new stores” (Doede & Nickman-Retana, 2010. p. 53) had zero closures but, faced a “lawsuit for [not] paying bills” (Doede & Nickman-Retana, 2010. p. 53). Finally in 2005 LNT attempted to “launch an exclusive Nate Berkus line” (Doede & Nickman-Retana, 2010. p. 53), by “October that year they were looking to sell” (Doede & Nickman-Retana, 2010. p. 53) LNT. Apollo Management with NRDC private equity bought LNT “mid-February 2006 at $1.3 billion ($28/share) [and hired] Robert J. DiNicola (turnaround specialist) as CEO succeeding Axelrod, January [2006]” (Doede & Nickman-Retana, 2010. p. 53). In conclusion DiNicola will be left with the decision on how to turnaround

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