BURLINGTON — The Burlington Linens ‘n Things store will remain open despite an announcement Friday by the retailer’s parent company that it will file for Chapter 11 bankruptcy protection.

The New Jersey-based Linens Holding Co. cited the impact from the current economic downturn in its decision to file for bankruptcy. As a result, the home furnishings retailer, which recorded $2.8 billion in sales last year, will close 120 under-performing U.S. stores.

Nearly one quarter of the closures are in California. None are in Washington, according to the announcement.

“The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising improvements that we have made over the past two years,” said Robert DiNicola, the company’s executive chairman, in a written statement.

The announcement follows several other high-profile bankruptcy filings among national retailers in recent months, including Bombay and Sharper Image.

Linens ‘n Things had 589 stores in the United States and Canada at the beginning of the year. The company’s Canadian stores, which are among its strongest performers, will all remain open.

Meanwhile, the remaining U.S. stores will operate without interruption as the company reorganizes.

The company was taken private in 2006 by the investment firm Apollo Management.

Since filling for bankruptcy, it has secured $700 million in financing from General Electric Capital Corp.

* Josh Lintereur can be reached at 360-416-2141 or at .