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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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Retail

Family Christian Retail Chain Closing All Stores

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Tessa Berenson
Tessa Berenson
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By
Tessa Berenson
Tessa Berenson
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February 24, 2017, 9:05 AM ET
Photograph Courtesy Familychristiandirect
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The store chain Family Christian will close all of its stores after 85 years.

USA Today reports that Family Christian, which calls itself the “world’s largest retailer of Christian-themed merchandise,” will close all 240 locations in 36 states due to declining sales.

“Despite improvements in product assortment and the store experience, sales continued to decline,” said Chuck Bengochea, company president. “In addition, we were not able to get the pricing and terms we needed from our vendors to successfully compete in the market… We have prayerfully looked at all possible options, trusting God’s plan for our organization, and the difficult decision to liquidate is our only recourse.”

The chain employs more than 3,000 people. A timetable for closure has not been announced.

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