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Indian companies including GHCL, Welspun India are eyeing US-based Linens N Things, reports CNBC-TV18, quoting sources. "Talks for Linens N Things are in the early stage. The process may take up to six months."
Indian companies including GHCL and Welspun India are eyeing US-based Linens 'n Things , reports CNBC-TV18, quoting sources. "Talks for Linens 'n Things are in the early stage. The process may take up to six months. Funding will be a key challenge for any Indian company."
The US-based retail giant operates 588 stores in US and Canada and employs a staff of 17,500.
Welspun India's management said it has not put a bid for Linens 'n Things while GHCL's management said it cannot comment on market speculation.
Linens 'n Things reported sales of USD 2.8 billion and a loss of USD 191 million. It had filed for bankruptcy under Chapter 11 on May 2, 2008. CNBC-TV18 Disclaimer This information is source-based and has not been provided to the stock-exchnages.
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By Nimesh Shah, CNBC-TV18
