Strouds Inc. blames “challenging conditions” in the retail environment for its recent decision to file for bankruptcy protection and close nine of its 70 bed and bath linens stores, including one in Roseville, MN.

Strouds has arranged $50 million in financing from CIT Group/Business Credit and Foothill Capital Corp. to bankroll its reorganization. Strouds is also closing four stores in Illinois, three in California and one in Nevada.

The City of Industry, CA-based retailer will have one store remaining in the Twin Cities – its store at the Galleria shopping center in Edina – after its 20,000-sf store at the Fairdale Shoppes shopping mall closes sometime in the next two to three months.

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