Sheet News

Plano-based JCPenney bats down bankruptcy with plush new bedding collection

JCP's new bedding and sheets look so cozy.

JCPenney

Plano-based JCPenney may have recently filed for bankruptcy and be closing stores, but that's not stopping them from introducing something new: As part of its home merchandise division, the retailer has launched a new set of bedding and sheets.

The brand is called Linden Street, and consists of sheets, quilts, and comforters which are framed as luxurious yet affordable. Sheet sets start at $40, while quilts and comforters range from $90 to $220.

Made from 100 percent cotton, they're described as ultra-soft and fuss-free. They're done in neutral color palettes — grays and taupes, mostly — that can transition between seasons, and are designed to be washed over and over again, getting even softer over time. Having sheets you can wash more than once is totally a good thing.

In a statement, JCP senior VP Stacey Shively reiterates the sheets-for-all-seasons theme.

"Whether you are settling into a new place or winding down after a long day, Linden Street was designed to celebrate an aesthetic that welcomes customers home," Shively says. "We are excited to offer this new bedding collection as customers look to create a comfortable retreat with high-quality, inviting styles they can cherish for seasons to come."

The release says that the collection represents "a fresh beginning" for the new brand and supports JCP's commitment to returning fashion, quality, and value to the home.

Linden Street also supports JCPenney's mission to create more sustainable, responsibly sourced products manufactured in clean, healthy environments. Several products are OEKO-TEX Certified, meaning they've been tested and verified free from more than 300 harmful substances.

Additionally, the new packaging is made of biodegradable labels and recycled polyester.

The Linden Street home collection is available now at the Company’s flagship store, jcp.com, and includes the Monroe 3-piece Comforter Set, Veranda 3-piece Comforter Set, Decatur Quilt, and more. Support your local department store chain and buy a set.

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Plastic Container News

Dallas-based Container Store joins wave of stores filing bankruptcy

Container Store

Another seemingly popular retailer has filed for bankruptcy: According to a release, the Container Store has filed for protection under Chapter 11 of the U.S. Bankruptcy Code, effective December 22.

The company is not closing down, says president and CEO Satish Malhotra in a statement.

“The Container Store is here to stay," Malhotra says. "Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities."

The Company has filed a motion with the Bankruptcy Court that will allow it to make timely payments to vendors, suppliers, and other trade creditors in full.

The stores and website will continue to operate as normal; all customer deposits and orders will be honored and delivered as normal.

At least 90 percent of the company’s loan lenders have pledged their support. A recapitalization will provide millions in new financing as well as debt service relief. This will strengthen their balance sheet and liquidity position, so they can meet commitments to partners and vendors.

Founded in 1978 and headquartered in Coppell, the Container Store offers organizing solutions and in-home services, with more than 10,000 products to complete any space, sold at more than 100 locations nationwide and a flagship online store.

When they first debuted, they were an utter revelation with all of their various plastic containers and tubs — a market that is now also filled by cheaper knockoffs sold at a much lower price at places like Target.

“We are particularly excited about the future of our custom space offerings, which continue to demonstrate strength," Malhotra says. "We intend to maintain our strong workforce and remain committed to delivering an exceptional experience for our customers while we execute this recapitalization and for many years to come.”

The Chapter 11 process does not include the Company’s Elfa business in Sweden, which continues to operate as usual.

There is starting to be a wave of bankruptcy filings of retailers that include Big Lots, which is holding going-out-of-business sales in anticipation of a company-wide closure; and Party City, which is closing its stores at the end of February.

The Container Store has created a dedicated website for stakeholders to get information about the Chapter 11 case at www.futureforcontainerstore.com.

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