Author: Natt Garun
Brookstone, the chain best known as “that place you go while waiting for your airplane to board,” has filed its second bankruptcy in four years, and it will close all 102 of its mall locations across the US, the company said on Thursday. The remaining 35 airport stores will stay open as it attempts to find a buyer.
Airport stores remain open — for now
In 2014, Brookstone sold to Chinese conglomerate Sanpower for $173 million in a bankruptcy auction, and it has now secured an additional $30 million loan to continue operation during this second sale. Its bankruptcy filing declares debts of up to $500 million and assets between $50 million and $100 million.
“The decision to close our mall stores was difficult,” Brookstone chief executive...
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Continue reading...
Brookstone, the chain best known as “that place you go while waiting for your airplane to board,” has filed its second bankruptcy in four years, and it will close all 102 of its mall locations across the US, the company said on Thursday. The remaining 35 airport stores will stay open as it attempts to find a buyer.
Airport stores remain open — for now
In 2014, Brookstone sold to Chinese conglomerate Sanpower for $173 million in a bankruptcy auction, and it has now secured an additional $30 million loan to continue operation during this second sale. Its bankruptcy filing declares debts of up to $500 million and assets between $50 million and $100 million.
“The decision to close our mall stores was difficult,” Brookstone chief executive...
Continue reading…
Continue reading...