Brookstone’s New Owner Plans to Keep Most Stores Open
According to the Wall Street Journal, a Chinese consortium that won an auction to buy Brookstone Holdings out of bankruptcy plans to keep nearly all of the specialty retailer’s 240 stores open, despite earlier indications that it could close as many as 25 locations.
The deal includes $137.5 million in cash, $10 million in second-lien notes, and the assumption of about $28 million in liabilities, the article reported.
To read the entire WSJ article, click here.
Previously on abfjournal: GE Capital Commits Financing to Support Brookstone Buyer, June 4, 2014