Anna’s Linens to File for Bankruptcy

Home goods retailer Anna’s Linens Inc. (Costa Mesa, Calif.) says it will file for Chapter 11 bankruptcy protection, according to The Wall Street Journal. The retailer, with more than 300 stores nationwide, had expanded rapidly in recent years, but is now looking for a buyer or may liquidate some or all of its stores, company sources told the news outlet.

Those familiar with the company say that, while Anna’s Linens expanded its physical store footprint throughout the country, it neglected its e-commerce operations and online presence. The decision backfired, sources say, as online home goods retailers such as Wayfair have gained a larger share of the category.