Bye Bye Brookstone: Another Mall Retailer Goes Bust
Earlier today, Brookstone filed for Chapter 11 bankruptcy protection and announced plans to close all 100 remaining mall locations in the United States. Sales declined by one third between 2016 and 2o17, but e-commerce sales did make up roughly 40% of the retailer’s sales.
This is likely why Brookstone is keeping the online store open as well as 35 locations within U.S. airports. The company has helped introduce brands like FitBit and iRobot to consumers, but the expensive cost of some goods have turned away potential customers to other retailers like Amazon.
Brookstone blames the decline in sales at physical locations to declining foot traffic in malls as well as problematic management decisions. The company hasn’t released a timeline for the store closures, but has hired liquidators to manage the process. This process typically takes a couple months to complete.
Brookstone operates stores in 35 states. You can check to see if there’s a store close to you on this page. It’s likely all stores will be closed prior to the start of the holiday shopping season.