Skip to comments.America's Largest Christian Bookstore Chain Files for Bankruptcy
Posted on 02/14/2015 11:00:52 AM PST by marshmallow
CEO: 'We have carefully and prayerfully considered every option.'
Family Christian Stores (FCS) has filed for Chapter 11 bankruptcy protection. Yet the ministry assured customers yesterday that it "does not expect" to close any of its more than 250 stores or lay off any of its approximately 4,000 employees.
We strive to serve God in all that we do and trust His guidance in all our decisions, especially this very important one, stated FCS president and CEO Chuck Bengochea. We have carefully and prayerfully considered every option. This action allows us to stay in business and continue to serve our customers, our associates, our vendors and charities around the world. [Full announcement below.]
With 266 stores in 36 states, FCS is the nation's largest chain of Christian stores as measured by locations, not sales. (For comparison, LifeWay Christian Resources has 185 stores in 29 states.) In 2014, FCS generated $216 million in gross revenues, notes Randall G. Reese at Chapter 11 Cases.
(Excerpt) Read more at christianitytoday.com ...
Bookstore chains are crashing and burning everywhere. These guys lasted a long time...of course, they probably bought out a ton of mom-pop stores along the way and now they’re both gone, but still...
That shouldn’t come as a shock to anyone. With the Kindle and other forms of being able to read books those who sell hard copy books have seen sales diminish. My wife is an avid reader as I am and we used to have stacks of books. Now we have very few as we have gone to Kindle. Saved us a bundle on not only books but places to store them.
Book stores, libraries, newspapers, and magazines as we knew them when we grew up will all either evolve to something completely different or disappear.
I have done the same. I probably have about 250 on my iPad. With my eye problem, it s just easier to read on it so I can adjust the size.
Book stores are dying.
Family Christian went to a non-profit model a few years ago, I think.
I do hope they survive in some fashion....although the one nearest me is pretty weak when it comes to customer service.
I don’t know how a bookstore survives anymore. So much is available online or digitally.
“Now we have very few as we have gone to Kindle.”
I bought few books in recent years and primarily used the public library but now,if there’s a waiting list, I just use Kindle.
Another good thing is that I can read off of my Kindle without reading glasses. Not bad for 82 years old.
Never heard of them.
What with being able to buy stuff online instead of at overpriced Christian bookstores, I’m not surprised.
No it ain’t bad for 82. I’m only 70 but still need my glasses even with Kindle. On the other hand my wife has to take hers off to read.
There's a great bookstore back in Las Cruces that seemed to be doing well last time I was in town.
Seems they have a website, too.
I used to buy from a catalog Christian place ... They had a book written by a Mormon on their list..I contacted them and they said "people want it" That was my last purchase from them
I only do Kindle now ..I do miss writing in the margins and underlining ..:)
Yeah there is that on some books. Especially since most all of the books I read have to do with history regarding Biblical times.
It might evolve back to the mom and pop bookstore (new and used) or small chains such as Half Price Books and John King Used and Rare books (Michigan).
I am not always an early adopter on technology.
But with Compact Disks, Mp3 Players, and Eink Book readers the product was worth the expense for me.
if I go camping I don’t have to choose which books to take. I take all of them.
You might look into the Onyx book readers. You can still buy books from Amazon and format shift them (using calibre) but if you want an electronic ink screen and handwritten notes it is possible.
Yep. I only pick up books from the bargain bin now otherwise its either an audio book or an e-book. I think there is still room for book stores but they have to find creative ways to capture some of the e-sales as well as offer compelling reasons to get people to visit their stores. Book stores really are better as a store within a store than as stand alone. Maybe they could partner with Hobby Lobby or other popular craft stores.
Could be, like the little shops that sell vinyl records.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.