Linens ‘N Things hires DJM Realty for store disposition
CLIFTON, N.J. Linens ‘N Things has hired DJM Realty to exclusively manage the disposition of 120 underperforming stores that the company targeted for closure as part of its restructuring. Linens ‘N Things filed to reorganize under Chapter 11 on May 2. The hiring is subject to Bankruptcy Court approval.
“We are pleased to announce our partnership with DJM Realty and look forward to a successful disposition of these stores. This is a great chance for retailers looking to expand their real estate,” said Hugh Scullin, senior vp of real estate, store planning, construction and legal for Linens ‘N Things.
Court rules in retailers’ favor in gift card suit
WASHINGTON According to a Reuters report, a court ruled in favor of Best Buy, Circuit City and other retailers over a lawsuit involving gift cards.
The U.S. District Court for the Western District of Texas ruled that the retailers had not infringed on Realsource’s patent for its method of putting value on gift cards. The U.S. Court of Appeals for the Federal Circuit agreed.
Dollar General names new board members
CHESAPEAKE, Va. Dollar Tree’s shareholders have re-elected Macon Brock, Jr., Mary Anne Citrino, Richard Lesser, and Thomas Whiddon, to serve on the board of directors.
In addition, the shareholders elected Arnold Barron, Carl Zeithaml, and Lemuel Lewis, who had been previously appointed by the board, to serve on the board of directors.