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Brookstone files for Chapter 11 bankruptcy protection again

Posted: 7:21 AM, Aug 02, 2018
Updated: 2018-08-02 15:17:35Z

(AP/CNN) - Brookstone, the ubiquitous seller of cool but largely unneeded things, is filing for Chapter 11 bankruptcy protection again.

The company is expected to close its remaining 101 mall stores, according to CNN.

CNN reported that the company will keep its 35 airport stores and website open and running while it attempts to find a buyer.

The specialty gift store said in a filing on Thursday that it had assets of $50 million to $100 million, and liabilities of $100 million to $500 million.

It first filed for bankruptcy protection in 2014. The Merrimack, New Hampshire, company was sold at auction in June of that year before emerging from bankruptcy protection.

Brookstone Inc. began in 1965 when Pierre de Beaumont put an ad in Popular Mechanics Magazine offering hard-to-find tools and other devices, according to the company's website. Its first store opened in 1973.