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Family Christian Announces Plan for Liquidation

GRAND RAPIDS, Mich., Feb. 23, 2017 -- Family Christian is announcing today it will close its doors – after 85 years in business. Changing consumer behavior and declining sales led the world’s largest retailer of Christian themed merchandise to make the difficult decision to close.  Family Christian is a not-for-profit business that employs more than 3,000 people and operates over 240 retail locations in 36 states, nationwide. Family Christian Ministries has provided humanitarian aid for more than 14 million orphans, widows and oppressed people across the globe.

“We had two very difficult years post-bankruptcy,” said Chuck Bengochea, company President. “Despite improvements in product assortment and the store experience, sales continued to decline.  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.”

“At its core, Family Christian is an organization with a heart for service. We are grateful for all of the millions of lives that have been impacted thanks to our guests' and employees' heart for bringing the light of Jesus to the darkest corners of our world. Through their efforts there is no question we have transformed lives now and for eternity,” said Steve Biondo, Senior Vice President of Human Resources and Organizational Development.

“Family Christian has left a powerful legacy of helping people find, grow, share and celebrate their faith in Jesus Christ. Today and always, we are grateful to God for the privilege of serving Him and look forward to finishing strong for His name’s sake,” added Bengochea.

CONTACT
Mary Beth Googasian
[email protected]
616.554.8712

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December 15 21:00 UTC Released

USOverall Net Capital Flows

Actual

151.2 Bln USD

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Previous

-51.3 Bln USD

December 15 21:00 UTC Released

USNet L-T Flows,Incl.Swaps

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7.9 Bln USD

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65.1 Bln USD

January 9 11:00 UTC 3501135011m

BRRetail Sales MM*

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0.35 %

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January 9 11:00 UTC 3501135011m

BRRetail Sales YY*

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3.20 %

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January 9 11:00 UTC 3501135011m

BRRetail Sales YY*

Actual

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3.20 %

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January 9 11:00 UTC 3501135011m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3501135011m

BRRetail Sales MM*

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Forecast

0.35 %

Previous

January 9 11:00 UTC 3501135011m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 54005400m

GBRPIX YY

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Forecast

Previous

4.2 %

December 12 09:30 UTC 54005400m

GBPPI Input Prices MM NSA

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Forecast

Previous

1 %

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