Brookstone Inc., the retailer of luxury gadgets including $4,600 massage chairs, won bankruptcy court approval of a financing package to help fund operations and pay off some debt as it pursues a sale, Bloomberg News reported on Saturday. Brookstone filed for bankruptcy on April 3 with a deal to sell its assets to Spencer Spirit Holdings Inc. The chain has struggled to adapt to an evolving retail landscape where online competitors dominate and consumers are cutting back on non-essentials. Bankruptcy Judge Kevin J. Carey on Friday granted the company interim approval to borrow about $91.3 million of $96.3 million in financing being provided by some of its noteholders. The company will seek approval of the remaining $5 million at an April 25 hearing.
