Brookstone may file for bankruptcy protection: Report
Gadget purveyor Brookstone may file for bankruptcy protection in a matter of weeks, according to an article in the Wall Street Journal.
Known for electronics like massaging chairs and remote control cars, and its presence in Sky Mall catalogs, the high-end retailer said in a statement to the Journal that it is "evaluating its options," and that it has hired restructuring advisers from various investment banks.
The company missed an interest payment last month on about $125 million of debt. It has about $200 million in debt total. The Journal also reported Brookstone is talking with Hilco Global and Tiger Capital Group LLC about the possibility of taking stakes in the company.
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