Brookstone Files for Bankruptcy and Plans to Sell Itself

Brookstone, the struggling retailer known for its consumer gadgets, massage chairs and eclectic home furnishings, filed for Chapter 11 bankruptcy protection Thursday, with plans to sell itself to the owner of the Spencer's retail chain for about $147 million. The filing caps a challenging period for Brookstone, which has laid off workers and closed stores amid a decline in sales. The company, which is privately held and based in Merrimack, N.H., said it lost $18 million in the 13 weeks that ended Sept. 28, compared with a loss of $12 million in the period a year earlier.