August 2, 2018 / 10:00 PM / 15 days ago

Retailer Brookstone returns to bankruptcy to shed its mall stores

Gift and gadget retailer Brookstone on Thursday filed for bankruptcy for the second time in four years, saying it plans to close its remaining shopping mall stores and focus on its airport, online and wholesale businesses.

The Merrimack, New Hampshire-headquartered company, known for selling gadgets like beanies with built-in headphones and shiatsu-massaging devices, said in its Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware that sales at its remaining 101 mall stores had been hit by the growth of online shopping.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2LZd8pd

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