Family Christian Stores, the largest Christian bookstore in the U.S., announced they are withdrawing their bankruptcy plans and will keep stores open.

The move was done to save the jobs of their 4,000 employees.

“The stewards of the ministry have done this out of love for the mission of Family Christian,” Chuck Bengochea, president and CEO of FCS, said in a press release. “We believe that this will help to satisfy certain objections of the Creditors Committee and the U.S. Trustees. This action will lead more quickly to a successful outcome in which we can continue to serve our customers and glorify God. Day-to-day operations at Family Christian Stores will continue as usual.”

The company had filed for bankruptcy in February because of $97 million owed to banks.

Rick Jackson, owner of FCS, says that it was previous owners who brought in the debt.  Jackson bought the stores in 2012 and turned them into a non-profit.

“The previous owners had so much debt that when the stores went down, they had enough to take care of themselves, but they couldn’t pay for the debt,” Jackson told The Christian Post last month while on the set of Giving Films’ first project, “90 Minutes in Heaven.”

“So we took it on; we were too positive thinking, and tectonic trends — people going online not going to brick and mortar stores — brought sales down 10 to 20 percent, just like Borders,” he added.