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.