Specialty gift retailer Things Remembered Inc. has filed for bankruptcy and intends to close most of its stores but has a deal in place to sell some of its remaining outlets to gift distributor Enesco LLC for $17.5 million, subject to higher bids, WSJ Pro Bankruptcy reported. Things Remembered filed for chapter 11 protection yesterday in the U.S. Bankruptcy Court in Wilmington, Del. Like other mall-based retailers that have filed for bankruptcy recently, Things Remembered has seen a decline in store sales as consumers shift to buying gifts online. Enesco’s bid means Things Remembered will likely continue outside of bankruptcy as a going concern, albeit with a significantly smaller footprint. As of January, Things Remembered had about 400 stores, court papers say. Enesco’s offer is for the retailer’s direct-sales business and at least 50 retail locations, with the option to add additional stores, according to court documents.
