Dive Brief:
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Costa Mesa, CA-based home goods retailer Anna’s Linens Inc. aims to file for bankruptcy protection, the Wall Street Journal reports.
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The retailer, founded in 1987, expanded rapidly in recent years and now has more than 300 stores nationwide.
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The retailer is looking for a buyer but may liquidate some or all of its stores, sources say.
Dive Insight:
Anna’s Linens has expanded its physical store footprint throughout the country and, sources told the Wall Street Journal, gave its e-commerce operations short shrift. That’s now haunting the company.
But the home goods category is a tough one; most home-goods retailers are struggling. Like office supplies retailers, there’s more competition than ever from general goods retailers and even specialty apparel retailers, while e-commerce retailers like Wayfair are dominating online.