There will be loads of Brookstone closings as the specialty retailer files for Chapter 11 bankruptcy.

The Brookstone closings will have the retailer shutting down all of its mall locations, as well as one liquidation center. The company currently operates a total of 101 mall locations that will be hit by this change.
According to the company, its mall locations haven’t been profitable since 2014
. The company attributes this to a few factors, including a decline in mall traffic over the last couple of years. It notes that 2017 revenue for all mall locations was $137.9 million and that adjusted EBITDA was negative $30 million.
One part of the business that won’t see Brookstone closings are its airport stores. The company currently operates 35 of these stores and is hoping to keep them open after completing its reorganization during the bankruptcy. It believes it can provide better profits from these locations with a change in its supply chain.
“Today, we announced we’re closing our mall stores in the coming weeks,” Brooktone said in a Tweet. “However, our website and airport stores are open for business! We will continue to provide you with the products you love. Thank you for your loyalty over the years.”
This isn’t the first time that Brookstone has filed bankruptcy in recent years. The other bankruptcy took place back in 2014. At that time, the retailer said the bankruptcy was due to it under performing during the recession that started in 2008.
As of this writing, William White did not hold a position in any of the aforementioned securities.