================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------ SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 5) LINENS 'N THINGS, INC. ---------------------- (Name of Issuer) Common Stock, $0.01 Par Value Per Share --------------------------------------- (Title of Class of Securities) 535679104 -------------- (CUSIP Number) with copies to: Jon Scheving Thorsteinsson John M. Reiss, Esq. Arev Gregory Pryor, Esq. Bankastraeti 5 White & Case LLP 101 Reykjavik 1155 Avenue of the Americas Republic of Iceland New York, NY 10036 +44 7843 462247 (212) 819-8247 ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 14, 2006 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. ================================================================================ SCHEDULE 13D CUSIP No. 535679104 1 NAME OF REPORTING PERSONS Jakup a Dul Jacobsen I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS OO (see Item 3) 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] 6 CITIZENSHIP OR PLACE OF ORGANIZATION Denmark NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% 14 TYPE OF REPORTING PERSON IN 2 SCHEDULE 13D CUSIP No. 535679104 1 NAME OF REPORTING PERSONS Lagerinn ehf I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS 00 (see Item 3) 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] 6 CITIZENSHIP OR PLACE OF ORGANIZATION Republic of Iceland NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% 14 TYPE OF REPORTING PERSON CO 3 SCHEDULE 13D CUSIP No. 535679104 1 NAME OF REPORTING PERSONS TF Holding P/F I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3 SEC USE ONLY 4 SOURCE OF FUNDS 00 (see Item 3) 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] 6 CITIZENSHIP OR PLACE OF ORGANIZATION Faroe Islands NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED 0 BY EACH REPORTING PERSON WITH 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% 14 TYPE OF REPORTING PERSON CO 4 The statement on Schedule 13D filed on September 22, 2005 relating to the common stock, $0.01 par value per share (the "Common Stock"), of Linens 'n Things, Inc., a Delaware corporation (the "Issuer"), as amended by Amendment No. 1 to the Schedule 13D filed on September 27, 2005, Amendment No. 2 to the Schedule 13D filed on October 25, 2005, Amendment No. 3 to the Schedule 13D filed on November 11, 2005 and amendment No. 4 to the Schedule 13D filed on February 13, 2006 (the "Schedule 13D"), is hereby further amended as set forth below by this Amendment No. 5 to the Schedule 13D. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned to such terms in the Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Item 5 of the statement on Schedule 13D is hereby amended and restated as follows: (a)-(b) Set forth in the table below is the number and percentage of shares of Common Stock beneficially owned by each Reporting Person as of February 5, 2006. NUMBER OF SHARES NUMBER OF SHARES AGGREGATE BENEFICIALLY BENEFICIALLY OWNED NUMBER OF PERCENTAGE OWNED WITH SOLE WITH SHARED VOTING SHARES OF CLASS VOTING AND AND DISPOSITIVE BENEFICIALLY BENEFICIALLY NAME DISPOSITIVE POWER POWER OWNED OWNED(1) ------------------------ ----------------- ------------------ ------------ ------------- Reporting Persons 0 0 0 0.0 Lagerinn ehf 0 0 0 0.0 Jakup a Dul Jacobsen 0 0 0 0.0 TF Holding P/F 0 0 0 0.0 No Reporting Person, and to the best knowledge of the Reporting Persons, none of the persons set forth on Schedule A to the Schedule 13D, beneficially owns any securities of the Issuer. (c) All Shares that were previously beneficially owned by the Reporting Persons have been disposed of pursuant to the closing of the merger contemplated by the merger agreement among Laundry Holding Co., Laundry Merger Sub Co. and Linens 'n Things, Inc (the "Merger"). As a result of the Merger, none of Jacobsen, Lagerinn, or TF Holding beneficially own any shares of Common Stock. 5 (d) As a result of the Merger, dividend on the Shares will no longer be paid to any reporting person. (e) Not applicable. 6 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 24, 2006 JAKUP A DUL JACOBSEN /s/ Jakup a Dul Jacobsen ------------------------ LAGERINN EHF /s/ Sigurdur Berntsson ----------------------- Name: Sigurdur Berntsson Title: Chief Financial Officer 7 TF HOLDING P/F /s/ Gunnar i Lida ----------------- Name: Gunnar i Lida Title: Managing Director 8