Jason Sandford
Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.
Here are a couple of Asheville business notes. Do you have an update about an Asheville business? Tell me, please.
–Ambiance Interiors, a fixture on Broadway in downtown Asheville, is moving and its building is up for sale. I’m not sure where they’re moving to. Meantime, the former Atlantic Books book store space on Broadway remains empty, as does the space formerly occupied by the Legends shop on Broadway.
–Linens ‘n Things stores are closing across the country. Will the store at Southridge Shopping Center in Arden survive? Here’s part of a story from the Tennessean:
Eight Linens ‘n Things stores in Tennessee, including three in the Nashville area, will be closed in the next couple of months, a store spokeswoman said Monday.
Clifton, N.J.-based Linens Holdings Co. filed a Chapter 11 bankruptcy petition in May. The company was unable to find a buyer after it had closed under-performing stores and will close the remainder of its stores, said spokeswoman Susan Kenney.
Linens Holdings Co. received approval from the U.S. Bankruptcy Court in the District of Delaware on Monday to liquidate the remaining stores. The company had 475 stores in the United States and Canada as of June 28.
The Nashville area has three stores, in RiverGate Mall, The Avenue at Murfreesboro and Cool Springs Pointe in Brentwood.
Linens ‘n Things also won court approval to pay its top managers and other headquarters employees $3.85 million if the company earns $582 million from liquidating the chain.
U.S. Bankruptcy Judge Christopher Sontchi approved the plan after the company redesigned it so it would reward managers for bringing in more money for creditors. Sontchi said in court on Monday that he rejected the first proposal last week because it paid people just to stay on the job.
“It essentially makes the hurdle for any payment under the plan a higher hurdle,” said Michael Gries, the company’s chief restructuring officer. “It takes longer now for the employee to get the bonus.”
thanks Weather Watcher!
Blub, yes – it’s news. Thank you.
From the manager’s hubby at Linens, the store will be closed in 10 weeks or so. Not sure if this is news or not.
Linens ‘n Things in Arden has a huge banner in front of the store announcing their "Going Out of Business Sale."
I spoke with the manager of another store in the shopping center earlier today and he told me that they were very surprised when the Linens ‘n Things closing was announced as there had been no mention of a potential closing in the shopping center.
The Asheville Oasis Spa/Salon on Merrimon across from Greenlife closed. It’s been there for several years.