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Brookstone files Chapter 11; seeks sale to Spencer’s
Merrimack, N.H. -- Specialty retailer Brookstone Holdings Corp. has filed for Chapter 11 bankruptcy protection, with a plan to sell itself to Spencer Spirit Holdings, owner of the Spencer’s retail chain, for about $147 million. The purchase price comprises $120 million in cash, $7.5 million in new notes and about $18.5 million of assumed liabilities.
Under the agreement with Spencer Spirit, Brookstone would continue to operate its stores in malls and airports, along with its catalog, website and wholesale business, under the Brookstone brand.
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Vallarta Supermarkets opens new California store April 9
Sylmar, Calif. – A new Vallarta Supermarkets store opens in Hesperia, Calif., on April 9. The 42,000-sq.-ft. location will offer specialty departments including a bakery, full-service meat counter, fresh produce, a hot food deli (Taqueria) with in-store dining, a shuttle service and a customer service department that offers check cashing, money transfers and utility bill payments.