Brookstone expected to file for bankruptcy

Merrimack, N.H. -- Specialty retailer Brookstone, plagued by poor sales and debt, is readying to file for bankruptcy protection in the next few days, according to a report in the Wall Street Journal.

The retailer, which sells a broad array of consumer goods from personal massagers to performance bedding, is likely to be acquired by another specialty retailer, Spencer Spirit Holdings.

Spencer Spirit Holdings, based in Egg Harbor Township, N.J., owns Spencer's, a specialty chain that sells clothes and accessories in mall-based stores, and Spirit, a seasonal Halloween retailer.

Spencer Spirit Holdings is reportedly expected to pay around $120 million for Brookstone, which has about $140 million in debt, according to the Wall Street Journal.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!