Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
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
