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America's largest Christian bookstore chain files for bankruptcy
America's largest Christian bookstore chain files for bankruptcy

America's biggest Christian bookstore chain, Family Christian Stores, has filed for Chapter 11 bankruptcy protection. The Michigan company says it won't lay off any employees or close any of its stores, however. Publishers Weekly reports that the chain, founded in 1931 as Zondervan Publishing House, "will use the bankruptcy proceedings to sell its assets to a new subsidiary formed by Family Christian Ministries." The company is in debt to several publishers, including HarperCollins Christian Publishing and Tyndale House, and has "assets of between $50 million and $100 million and liabilities in the same range." Family Christian Stores runs 266 stores...

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