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Brookstone Files for Bankruptcy, Plans to Close Mall Stores

BrookstoneAccording to NPR, Brookstone Co. Inc. has filed for bankruptcy for the second time. On Thursday, the retailer announced that it will shut down about 100 of its mall locations with hopes of selling its remaining assets, according to the filing document.

In 2014, Brookstone filed for Chapter 11 bankruptcy protection and sold its assets to the China-based conglomerate Sanpower Group. Currently, under Sanpower, the company operates 137 retail stores, 35 of which are located in airports.

According to the bankruptcy filing, airport locations are set to remain open, but the company will close all unprofitable stores and sell its remaining assets.

The company hopes to complete sale of the business before the end of September.

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