Why did Family Christian go out of business?
The chain filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt in the face of a sales slump amid growing competition from online stores. Bricks-and-mortar rivals also took business away by stocking best-selling Christian-market titles and Bibles.
Who owns Family Christian Stores?
What happened to Berean Christian Stores?
LifeWay Christian Stores will acquire the Berean Christian Stores chain. … LifeWay currently owns 163 stores in 26 states, and will increase its reach to 28 states after finalizing the acquisition.
Why did LifeWay close their stores?
In January LifeWay announced it would reduce the number of its retail locations due to declining sales. … However, acting President and CEO Brad Waggoner said “current market projections show this is no longer a viable option.”
Why are bookstores closing?
Two major factors have contributed to the 9.6% decrease in sales at bookstores since 2007: the growing popularity of e-books, and Borders going out of business. Both have caused serious drops in the number of bookstore sales, though competition with online retailers like Amazon is another major factor.
What does the word Berean mean?
: a native or inhabitant of the ancient city Beroea.