Family Christian, the biggest U.S. Christian bookstore chain, said yesterday that it was going out of business and planned to close its 240 stores across 36 states, Reuters reported. "Despite improvements in product assortment and the store experience, sales continued to decline," said Chuck Bengochea, the company's president. "In addition, we were not able to get the pricing and terms we needed from our vendors to successfully compete in the market." The chain filed for chapter 11 protection in February 2015 with more than $120 million in debt in the face of a sales slump amid growing competition from online stores.
