Brookstone will close all its US mall outlets just after 2nd individual bankruptcy in four several years

Brookstone, the chain very best identified as “that area you go even though ready for your plane to board,” has submitted its 2nd individual bankruptcy in four several years, and it will close all 102 of its mall places across the US, the firm explained on Thursday. The remaining 35 airport outlets will keep open up as it tries to come across a consumer.

In 2014, Brookstone bought to Chinese conglomerate Sanpower for $173 million in a individual bankruptcy auction, and it has now secured an further $30 million loan to keep on procedure for the duration of this 2nd sale. Its individual bankruptcy submitting declares money owed of up to $500 million and assets among $50 million and $100 million.

“The selection to close our mall outlets was tough,” Brookstone main govt…

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