NATION

NATION

Linens ’n Things to put itself up for sale at auction

NEW YORK — Specialty retailer Linens ’n Things, which filed for bankruptcy protection in May, said Wednesday it is scrapping a reorganization plan and will put itself up for sale in an auction occurring Tuesday.

The company expects a lead bidder to be named for the auction. That bidder has proposed liquidating the company, said Rich Tauberman, a representative for the chain’s parent company Linens Holding Co. However, he added the company is open to other bids.

Ohio ranks 47th in state tax policies

ALBANY, N.Y. — Ohio remains in the bottom five of an annual ranking of state tax policies for being business-friendly.

Ohio slips one notch to 47th in the Tax Foundation’s 2009 Business Tax Climate Index, which rates states based on their corporate, individual, sales, unemployment and property taxes.

New Jersey is in last place. Just above it is New York, then California. Wyoming ranked first, followed by South Dakota, Nevada, Alaska and Florida.

Associated Press