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GHCL aiming to take over USA retailer Linens 地 Things
Posted On: 15-05-2008 10:31:27 AM

Sanjay Dalmia-led GHCL is reported to be keen on buying USA痴 second-largest specialty home furnishings retailer, Linens 地 Things. The company operates close to 600 stores across the US and Canada with sales totaling $2.8 billion. If this goes through this could well be the biggest overseas retail buyout by an Indian firm, and is likely to make GHCL one of the world痴 largest specialty home textile retailers.
Poor sales in the wake of the slump in the housing market had forced Linens Holding, the holding company of Linens 地 Things, to file for Chapter 11 bankruptcy early this year. The company had recorded a net loss of $ 242.1 million for 07 with store sales declining by 51% in the first quarter. GCL already operates close to 300 stores in the UK through Rosebys, Britain痴 largest home textile retail chain, which it had acquired in 2006.

 
 
 

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