Brookstone Stores Closing Multiple Locations: Going, Going, Gone
Looking to buy a massage chair or luggage from Brookstone in the future? Well you better hurry up because they are planning to close 7 stores in New Jersey, with the closest one being in the Princeton Marketfair. Though unclear of when exactly the stores will be closing their doors for good, there will be a total of 101 Brookstone stores in total shutting down, after the company had decided to file for bankruptcy. Its focus will be on keeping 35 airport stores open and selling products online. So unless you will be going on vacation and flying somewhere to access the one in the Newark Liberty International Airport, you may have to start shopping online. Other locations that are now shutting down are: Garden State Plaza in Paramus, Paramus Park mall, The Mall at Short Hills in Millburn, Menlo Park Mall in Edison, Riverside Square in Hackensack, and Rockaway Square Mall.
In a statement reported on NJ.com, Brookstone CEO Piau Phang Foo said, “Today, we have taken several important steps to restructure the business and ensure that Brookstone will be well-positioned to succeed for years to come. The decision to close our mall stores was difficult, but ultimately provides an opportunity to maintain our well-respected brand and award-winning products,”
Although bankrupt, it was reported on NJ Advance media that Brookstone had secured a $30 million loan to continue their operations. This was not their first file for bankruptcy. In 2014, they had filed and were sold to a Chinese company Sanpower Group for $136 million. Hopefully, this will not be the end for Brookstone entirely.