Bankruptcy for Brookstone

Brookstone Inc., whose quirky products are a staple of airport shopping, filed for bankruptcy protection with a plan to rid the company of leases and inventory by leaving malls.

The Chapter 11 petition lists assets of $50 million to $100 million and liabilities of $100 million to $500 million, according to court documents filed Thursday in Delaware. Brookstone will seek approval for up to $30 million in debtor-in-possession financing from Wells Fargo Bank and Gordon Brothers Finance Co., according to court papers.

Brookstone operates 137 stores across 40 states and Puerto Rico, with “substantially all” of the mall outlet slated for closure, according to the filing. The mall stores lost money each year since 2014, while the airport stores have been profitable and won’t be included in the closings.

This will be Brookstone’s second trip to bankruptcy court since 2014.

Starbucks opens new bakery

Starbucks opened an Italian-style bakery in Seattle Tuesday. At Princi, customers can purchase breakfast and lunch, as well as desserts, breads, and grab a cup of coffee — a special Starbucks blend created for the bakery. Cocktails, beer and wine will be available in the evening.