Brookstone planning to file for bankruptcy

Posted on Thursday, April 3rd, 2014 at 4:52 pm    

The U.S. retail store chain Brookstone is reportedly planning to file for bankruptcy in order to sell the company, Reuters reported on March 27.

Though its assets were undisclosed, Brookstone, which has more than 300 outlets in the U.S. and Puerto Rico, has an estimated debt of $140 million. The specialty retailer was reportedly considering making a deal with Spencer Spirit Holdings Inc., which is expected to shell out $120 million.

In 2005 Brookstone was acquired by massage chair manufacturer, Osim in a $445 million deal.

Brookstone did not comment on the issue.

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