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Brookstone preparing to file for bankruptcy

from The Wall Street Journal

Brookstone Inc., which sells consumer gadgets ranging from travel electronics to massage chairs, is preparing to file for bankruptcy protection, with a plan in place to be bought by another specialty retailer, people familiar with the matter said. Egg Harbor Township, N.J.-based Spencer Spirit Holdings Inc., which owns Spencer's and costume retailer Spirit, has been in discussions with Brookstone for weeks, the people said, as Brookstone battles disappointing sales, weak liquidity and a hefty debt load. more

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