Mall staple Brookstone seeks bankruptcy cover

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MERRIMACK, N.H. (AP) — Brookstone, a staple in malls and
airports nationwide, is seeking Chapter 11 bankruptcy protection as part
of its $147 million sale to Spencer Spirit Holdings.
The purveyor
personal massagers, iPad keyboards and other quirky gadgets, said
Thursday that its 240 stores will remain open and business will continue
as usual.
The Merrimack, N.H., company announced last week that
it would be acquired by Spencer after it had filed for bankruptcy
protection.
Brookstone, which was punished by a more pragmatic
consumer during the recession and then by growing online completion, has
watched sales decline sharply. In its most recent quarter, sales
declined by more than 7 percent.
Spencer Spirit, based in Egg
Harbor Township, N.J., owns Spencer stores and sells Halloween costumes
at its Spirit pop-up stores.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

MERRIMACK, N.H. (AP) — Brookstone, a staple in malls and
airports nationwide, is seeking Chapter 11 bankruptcy protection as part
of its $147 million sale to Spencer Spirit Holdings.
The purveyor
personal massagers, iPad keyboards and other quirky gadgets, said
Thursday that its 240 stores will remain open and business will continue
as usual.
The Merrimack, N.H., company announced last week that
it would be acquired by Spencer after it had filed for bankruptcy
protection.
Brookstone, which was punished by a more pragmatic
consumer during the recession and then by growing online completion, has
watched sales decline sharply. In its most recent quarter, sales
declined by more than 7 percent.
Spencer Spirit, based in Egg
Harbor Township, N.J., owns Spencer stores and sells Halloween costumes
at its Spirit pop-up stores.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

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