Family Christian Stores closing down

Family Christian Stores announced today its plan to close all of its retail locations two years after filing bankruptcy. The company employs more than 3,000 people in over 240 stores around the country. Two years ago, the company shed more than $100 million in debt in bankruptcy proceedings that brought objections from suppliers and creditors. Ultimately, most creditors approved the company’s restructuring. “We had two very difficult years post-bankruptcy,” President Chuck Bengochea said in a statement. “Despite improvements in product assortment and the store experience, sales continued to decline.” The company did not provide a timeline for when the store closures will begin.