Report: Linens 'n Things May Be Headed for Bankruptcy

New York City Leon Black's buyout firm Apollo Management is considering the idea of a "prepackaged" bankruptcy plan for Linens 'n Things, the New York Post reported online Tuesday, citing sources.

 In the course of such a plan, Apollo and the retailer's creditors would agree on a restructuring plan before filing for Chapter 11, the Post reported. The company was not reached for comment, the report said.