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Report: Spencer’s parent to buy Brookstone out of bankruptcy

Specialty gadget retailer Brookstone is reportedly preparing to file for bankruptcy protection as soon as this weekend, with a plan to sell the struggling company to Spencer Spirit Holdings, the parent of specialty retail chains Spencer’s and Spirit, according to a Wall Street Journal story. Spencer Spirit will pay about $120 million for Brookstone, and it has no immediate plans to close stores or cut jobs, sources said.

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