Family Christian Stores Files for Bankruptcy

TWL_2015_feb_blog15In an effort to keep its 260 stores open nationwide, America’s largest Christian retail chain has filed for Chapter 11 bankruptcy. Family Christian Stores says it is struggling with excessive debt because of declining sales. The drop in sales started in the wake of The Great Recession and has lingered in large part because of a consumer shift toward buying books, music and movies digitally. Chuck Bengochea, the company’s president and CEO, released a video statement about the filing saying, “I wish that we had alternatives but we do not.” While it restructures its debt, Family Christian Stores says it has no plans to cut jobs.

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