The fortunes of Bradlees took a turn for the worse in 2000 and on December 26, 2000, the company announced another filing for Chapter 7 bankruptcy protection, and said that Bradlees would begin liquidation sales as soon as possible, ending business. Executives of Bradlees said it filed for bankruptcy protection because of a general economic downturn, including rising interest rates and higher gas and heating oil prices that had left customers with less disposable income. The executives also said new competition, unseasonable weather in the first half of 2000, and the tightening of trade credit contributed to its inability to operate profitably.