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Is popular retailer Brookstone filing for bankruptcy?

Is popular retailer Brookstone filing for bankruptcy?

Brookstone is well known for its quirky, practical gadgets and lifestyle products but sagging sales and high levels of debt could force Brookstone into bankruptcy.

The company has about $140 million in debt according to the Wall Street Journal. It is being reported that Spencer Spirit Holdings Inc., which owns Spencer's Gifts and Spirit costume stores, may buy Brookstone for around $120 million.

Brookstone, which is privately-owned, operates about 290 stores in the United States and Puerto Rico.

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