By Caitlin Palmieri, Total Retail
Marbles: The Brain Store has filed for Chapter 11 bankruptcy and wants to close its 37 brick-and-mortar stores. The Chicago-based puzzle and game retailer wants to wind down its brick-and-mortar presence while trying to sell intellectual property related to its e-commerce and wholesale business. Unfortunately, reports say due to a “dramatic downturn” during the holiday 2016 season, the retailer was left short on cash.
Total Retail’s Take: 2017 takes another retailer. Marbles: The Brain Store is one of many longtime retailers to announce bankruptcy this year. American Apparel, Nasty Gal, Wet Seal and, most recently, Eastern Mountain Sports are just a few names to add to the list. Retailers are restructuring and focusing on a more holistic approach to serving customers due to the on-demand economy.
FWCBD Update: As of 2/27/17, The Jefferson St. location in Fisherman's Wharf is now permanently closed.