Brookstone Files for Chapter 11 Bankruptcy

Content Manager

Brookstone is filing for Chapter 11 bankruptcy protection and announced it would be closing 101 mall locations, claiming declining mall traffic as the culprit.

“Today we have taken several important steps to restructure the business and ensure that Brookstone will be well-positioned to succeed in years to come,” said Piau Phang Foo, CEO of Brookstone in a press release. “The decision to close our mall stores was difficult, but ultimately provides an opportunity to maintain our well-respected brand and award-winning products while operating with a smaller physical footprint.”

Foo said that Brookstone’s airport, ecommerce and wholesale businesses are operating successfully and should prove attractive to a buyer with the financial resources and vision to carry the company forward.

Business Insider reported that this is the second time the company filed for bankruptcy since the recession in 2007-2009. In 2014, a group of Chinese buyers powered by Sanpower Group and Hong Kong-based private equity firm Sailing Capital bought the company for $174 million.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.