 In November 1995, Edison Brothers filed for bankruptcy, cited a poor specialty retail environment and a bleak holiday season outlook and a plan to close 500 of its 2,700 outlets by January 1996.The company sold its entertainment division to Namco Cybertainment, a division of Japan's Namco, in 1996.It emerged from bankruptcy in 1997, but filed for bankruptcy again in March 1999 amid declining sales despite shrinking the company to about 1,500 retail locations.