Please reload

RIP Family Christian Stores: largest Christian chain to close all 240 units

 

Family Christian Stores, “the world’s largest retailer of Christian-themed merchandise” is saying amen after 85 years in business. The company will close all of its 240 stores.

 

“We had two very difficult years post-bankruptcy,” said president Chuck Bengochea. “Despite improvements in product assortment and the store experience, sales continued to decline. In addition, we were not able to get the pricing and terms we needed from our vendors to successfully compete in the market. “We have prayerfully looked at all possible options, trusting God’s plan for our organization,” he stated, “and the difficult decision to liquidate is our only recourse.”

 

In 2015, Family Christian filed for bankruptcy. Despite $230 million in gross revenues in 2014, the retailer owed more than $90 million. Sales of $305 million in 2008 had declined to a projected $216 million in 2015.

Share on Facebook
Share on Twitter
Please reload

Institutional investors slash CRE capital budget by 19%: Report

Ashford REIT invests in 'purification' tech to create allergy-free guestrooms

REIT to build $110M facility to house immigrants rounded up by Trump

Working in style: The corporate campus designed by Frank Lloyd Wright

Hard Rock unveils plans to revamp Trump's failed Atlantic City casino

Food tenants increasingly crucial for shopping centers: Report

Retailer Finer Fields aims to merge bricks and clicks

The Gents Place 'lifestyle club' muscling into new markets

1/2
Please reload

COMMERCIAL REAL ESTATE NEWS & CULTURE

  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon
More from Squarefootprint
Further reading

ABOUT USCONTACT • ADVERTISE • ARCHIVE

© 2017 SQUAREFOOTPRINT

  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon