Mall Staple Brookstone Files for Bankruptcy Protection

Brookstone store at Miami International Airport
Jeff Greenberg/Alamy
MERRIMACK, N.H. -- 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 of 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.
Both companies are privately held.

Brookstone, which was punished by more pragmatic shoppers during the recession and then by growing online competition, has watched sales decline sharply. In its most recent quarter, sales declined by more than 7 percent.

In its bankruptcy filing, Brookstone estimated that it has liabilities between $100 million and $500 million and assets in the same range.

Spencer Spirit, based in Egg Harbor Township, N.J., also has a strong presence in malls. It sells clothing, jewelry and gag gifts at its 644 Spencer's stores and Halloween costumes at its Spirit pop-up shops.


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16 Comments

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clanlindsaysct

good I actually managed 1 of these when i was younger in the Livingston mall. they fired me because we could not even give their crap away let alone sell it. about time

April 04 2014 at 7:55 AM Report abuse rate up rate down Reply
Randy Rodriguez

They sold over priced junk you can buy online

April 04 2014 at 6:43 AM Report abuse rate up rate down Reply
TitanGirl

well if you shop online. they will hire people in India to be our representatives.

April 04 2014 at 2:17 AM Report abuse rate up rate down Reply
Sire

Cool stuff but crushingly overpriced.

April 04 2014 at 1:27 AM Report abuse +2 rate up rate down Reply
wlh1923

Oh noooooooooooooo, not Brookstone. Where am I going to find a place in the mall to hangout (while the wife/gf shops) that sells absurdly overpriced gadgets, widgets and last second Christmas gifts? Looking for that special tool for extracting unsightly whiteheads from one's anal region? Brookstone was the place. Looking for that special tool that removes toe jam? Brookstone was the place. Looking for that special foam kneeling pad for BJ's ladies? Brookstone was the place. King of Prussia Mall will never be the same.

April 03 2014 at 10:46 PM Report abuse +3 rate up rate down Reply
1 reply to wlh1923's comment
pdbocc

They sell foam kneeling pads for BJ's???? I have to get one for my wife and one for my girilfiend.

April 04 2014 at 8:55 AM Report abuse rate up rate down Reply
stephenacs

This is not surprising. Whenever I'm in the mall I stop in to see the gadgets and mostly see low-end mall shoppers using the place as a rest area by monopolizing the massage chair and foot massagers. Not very appealing for an up-market store as I've never seen them buy a thing...

April 03 2014 at 8:01 PM Report abuse +1 rate up rate down Reply
Tom

Declaring bankruptcy and then continuing on is a wonderful trick. Just ask Donald Trump or Bain Capital/Mitt Romney.

April 03 2014 at 6:46 PM Report abuse +1 rate up rate down Reply
Tris

Yay more unemployed over-qualified individuals hitting the unemployment race! I'm sure their level C's took a nice little 'bonus' in lieu of said bankruptcy that those on the front lines wouldn't make in three years of full time work.

I hate the system, I really do.

April 03 2014 at 5:36 PM Report abuse -2 rate up rate down Reply
baindoff

Word has it that Obamacare finally broke the camels back and was the last straw. The company couldn't afford it.....

April 03 2014 at 4:11 PM Report abuse -1 rate up rate down Reply
2 replies to baindoff's comment
MiamiSciFi

oh no, not affordable health care!!!! idiot. bush put the country in a hole, obama =benign ; bush=,alignant

April 03 2014 at 4:21 PM Report abuse -2 rate up rate down Reply
1 reply to MiamiSciFi's comment
American 1st

To Miami-
Idiot.... Barney Fife Frank & the Dems caused the Economic crash by lowering the home loan qualifications so even my dog could get a home loan. I know because I've been in the Housing Market for 20+ years and was appalled at the 100%+ loans given to people who couldn't afford them. But feel free to keep reading your lying Liberal blogs, idiot.

April 04 2014 at 9:04 AM Report abuse rate up rate down
sosoon

why would anyone not like your comment. whether it is true or not, obama care sucks and is hurting this country.

April 03 2014 at 5:41 PM Report abuse +1 rate up rate down Reply
1 reply to sosoon's comment
Tom

Who told you that? I'm sure it wasn't all the people who now have access to affordable healthcare. Or the 3 million kids who can now stay on their parents policies. Or those with pre-existing conditions. Or those who have reached the lifetime limits on their present policies. Or those whose previous insurance policies hardly covered anything. I'm thinking you must have heard it on the Fox News.

April 03 2014 at 6:44 PM Report abuse rate up rate down
fifiwereking

so sad, one of my favorite stores! though i have to admit, without any raises to help offset the much higher cost of living these days, i'm down to buying only necessities, which doesn't include the wonderful brookstone inventory...

April 03 2014 at 3:13 PM Report abuse +5 rate up rate down Reply
1 reply to fifiwereking's comment
msgoe

they are being bought out .. not closing :)

April 03 2014 at 3:55 PM Report abuse +4 rate up rate down Reply