Post by Logan on Feb 24, 2017 20:45:38 GMT -6
Family Christian — a nonprofit retailer based in Grand Rapids with outlets in 36 states — announced today it is closing after 85 years.
The company, which bills itself as the “world's largest retailer of Christian-themed merchandise,” has 240 stores nationwide, including 18 in Michigan, and employs more than 3,000 people. In a brief statement, it said it had been facing declining sales since filing for bankruptcy protection in 2015, and it now has no choice but to shut down.
In many ways, retail analysts said, the company is another victim of online sales competition and evolving digital technology, which has changed the way people use and read books, particularly Bibles.
“Despite improvements in product assortment and the store experience, sales continued to decline," said Chuck Bengochea, the company's president. "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, and the difficult decision to liquidate is our only recourse.”
Read more: www.freep.com/story/money/business/michigan/2017/02/23/family-christian-stores-close/98310234/
The company, which bills itself as the “world's largest retailer of Christian-themed merchandise,” has 240 stores nationwide, including 18 in Michigan, and employs more than 3,000 people. In a brief statement, it said it had been facing declining sales since filing for bankruptcy protection in 2015, and it now has no choice but to shut down.
In many ways, retail analysts said, the company is another victim of online sales competition and evolving digital technology, which has changed the way people use and read books, particularly Bibles.
“Despite improvements in product assortment and the store experience, sales continued to decline," said Chuck Bengochea, the company's president. "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, and the difficult decision to liquidate is our only recourse.”
Read more: www.freep.com/story/money/business/michigan/2017/02/23/family-christian-stores-close/98310234/