The adjusted EBITDA condition, however, continues to be subject, among other things, to the year-end audit of the 2005 financial statements, absence of any significant year-end audit changes or adjustments, and satisfactory completion and results of year-end physical inventory, and until such satisfactory completion of the year-end audit there can be no assurance that such condition to the debt financing for the proposed merger with Apollo will be satisfied.
Shareholders and investors are encouraged to read the definitive proxy statement concerning the proposed Apollo merger previously filed with the Securities and Exchange Commission and being distributed to the company's shareholders.
Linens 'n Things, with 2005 sales of $2.7 billion, is one of the leading, national large format retailers of home textiles, housewares and home accessories.
As of December 31, 2005, the Company was operating 542 stores in 47 states and six provinces across the United States and Canada.
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