Brookstone joins RadioShack, Toys 'R' Us and others as victims of Father Time

Shawn Knight

TechSpot Staff
Staff member

Brookstone, the retail store chain regarded by many as a geek boutique, has filed for Chapter 11 bankruptcy protection and will be closing all of its remaining 100 or so mall locations.

Declining foot traffic in malls as well as management blunders are being blamed for the company’s failure. The growing shift to e-commerce, thanks in large part to Amazon, also likely had a lot to do with it.

Brookstone said on Twitter that it will continue to focus on its website and airport stores. Brookstone CEO Piau Phang Foo said the decision to close their mall stores was difficult but ultimately provides an opportunity to maintain their well-respected brand and award-winning products while operating with a smaller physical footprint.

This is the second time Brookstone has filed for bankruptcy in recent years. In 2014, the company filed for Chapter 11 bankruptcy protection and was eventually bought by Chinese conglomerate Sanpower for around $173 million.

Brookstone joins other like RadioShack, Sharper Image, Toys ‘R’ Us and KB Toys as victims of Father Time. Once staples of the retail and mall landscape, one by one, they’re fading from memory.

Lead photo via Rich Pedroncelli, AP

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stewi0001

TS Evangelist
Platinum
My understanding with Toy's R Us is that they were more of a victim of their parent company pushing their debt onto Toy's R Us
 

Uncle Al

TS Evangelist
I'm actually surprised they lasted as long as they did, between the prices and a general lack of cutting edge stuff they really didn't stand much of a chance. In the beginning they were cutting edge, now just a figment of the past ...... RIP
 

Theinsanegamer

TS Evangelist
I've never heard of them here in the midwest. Must have been a coastal chain. What did they sell?

Oh, lifestyle items. AKA the things super easy to undercut on amazon.

I dont understand how these stores continue to get blindsided to the point of bankruptcy by the internet. What part of "internet shopping" is so alien to these companies? The model railroad industry figured it out years ago, model stores do mostly internet sales, keeping their storefronts to display products that you need to see before buying. How can retail companies not figure this out already? Start selling on ebay/amazon, make a website to sell your stuff, SOMETHING.

My understanding with Toy's R Us is that they were more of a victim of their parent company pushing their debt onto Toy's R Us
Toys R us was the victim of a leveraged buyout, AKA "buy the company with debt int he vain hope of the company's performance increasing dramatically to cover the cost of servicing that debt". It is a real scummy way to buy a company and pump any value they have out of them before letting them collapse, used by the finest leaches of the financial industry.