Things Remembered Inc., a U.S. retailer that sells engraved gifts and keepsakes, is preparing to file for bankruptcy protection in the coming days and shutter most of its roughly 400 stores, Reuters reported. The preparations show how a debt restructuring that Things Remembered underwent in 2016 was not enough to spare it from the wave of bankruptcies sweeping the brick-and-mortar retail sector amid the growing popularity of online shopping. The Highland Heights, Ohio-based company, which employs roughly 2,500 people in the U.S. and Canada, is hoping to sell its brand and online business during bankruptcy proceedings, an effort that would potentially preserve hundreds of jobs, one of the sources said. Things Remembered is also seeking buyers for some of its stores.
