The country's biggest Christian bookstore recently filed for Chapter 11 bankruptcy. 

Family Christian Stores has 266 locations in 36 states, and has a plan to keep each branch open and its employees working. 

The 84-year-old chain was purchased by Atlanta investors in 2012, and donated the profits to its Family Christian Ministries. Now, the company plans to sell its assets to a newly created subsidiary of the same nonprofit ministry. 

"We strive to serve God in all that we do and trust His guidance in all our decisions, especially this very important one," Chuck Bengochea, president and CEO of Family Christian Stores, said in a statement. 

"We have carefully and prayerfully considered every option. This action allows us to stay in business and continue to serve our customers, our associates, our vendors and charities around the world."

According to court documents, the Michigan-based retail chain has suffered from declining sales since 2008, and had $216 million in sales last year. 

Family Christian Stores sells Christian books, music and gifts, and all of its profits are donated to Christian organisations and ministries. Orphans, bible donation, and foster children are just some of the causes that the company supports. 

"Our customers will not see any change in operations during this process, Bengochea insisted.  

"After the court approves the sale, we can begin to reinvest in our stores and bring our customers products and services that will help us better fulfill our mission – to glorify God by helping people find, grow, share and celebrate their faith in Christ."