Brookstone Wins Approval of Sale To Chinese Buyers, Plan to Exit Bankruptcy

Brookstone Inc., the luxury-gadget retailer, won bankruptcy court approval of its plan to sell the chain to a group of Chinese buyers for about $174 million that will be used to pay creditors (In re Brookstone Holdings Corp., Bankr. D. Del., No. 14-10752, plan confirmed).

U.S. Bankruptcy Judge Brendan Linehan Shannon in Wilmington, Del., approved the sale June 23 to a company backed by the Chinese conglomerate Sanpower Group and the Hong Kong-based private-equity firm Sailing Capital. The sale is the cornerstone of the retailer’s bankruptcy exit plan.

“Today marks a new chapter in Brookstone’s history,” Chief Executive ...