Brand Development Company Acquires Linens 'N Things
December 10, 2013
Gordon Brothers Group, Hilco Global and Infinity Lifestyle Brands recently announced the sale of Linens 'N Things to New York-based Galaxy Brand Holdings for an undisclosed amount. Galaxy Brand Holdings is a brand development company with a diversified portfolio of consumer brands, including AND1, Avia and Nevados. In May 2013, The Carlyle Group acquired a majority interest in Galaxy Brand Holdings. Linens 'N Things was a major retailer of home goods with 571 stores before filing for bankruptcy in 2008. In February 2009, Hilco Global, Gordon Brothers Group and other partners disposed of the company's assets. The intellectual property was subsequently acquired by a joint venture including Hilco Global, Gordon Brothers Group and Infinity Lifestyle Brands. The Linens 'N Things brand was relaunched as an online retailer of home goods. Galaxy Brand Holdings plans to leverage Linens ‘N Things’ heritage to connect with consumers by offering store-branded products, and by re-establishing the brand as a home destination both in-store and online.