Brookstone Files For Bankruptcy, Plans To Close Mall Stores [View all]
Brookstone Co. Inc. has filed for bankruptcy for the second time.
The retailer — known for massage chairs and other gadgets — announced Thursday that it will be shutting down about 100 of its mall locations with hopes of selling its remaining assets, according to the filing document.
In 2014 it filed for Chapter 11 bankruptcy protection and sold its assets to the China-based conglomerate Sanpower Group. Currently, under Sanpower, the company operates a total of 137 retail stores, 35 of which are located in airports.
Loss of foot traffic in shopping malls was cited by Greg Tribou, Brookstone's chief financial officer, as a major reason for filing bankruptcy.
https://www.npr.org/2018/08/02/635021251/brookstone-files-for-bankruptcy-plans-to-close-mall-stores?
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