A POPULAR furniture chain has confirmed it is closing almost 30 locations citing interest rates, inflation and tariffs as the main drivers of the shut downs
At Home, a home decor retailer based in Texas, will close 29 “underperforming” locations by September 30.
The retailer had originally said it would close 26 locations but three more spots have been added[/caption]
The shut down comes after the retailer filed for Chapter 11 bankruptcy in June, as a result of “broader economic and retail-specific market pressures”.
The chain had originally said it would close 26 locations but three more spots have been added.
According to court documents, At Home will close locations in several locations.
These include stores in New York, California, Florida, Minnesota, Washington, New Jersey, Pennsylvania, Virginia, Montana, Wisconsin.
At Home has already closed six locations this year.
Founded in 1979, At Home is a home goods retailer that sells everything from furniture, rugs, and home decorations to bedding, outdoor furniture, and more.
The company operates roughly 260 stores across 40 states, although macroeconomic challenges have pushed the chain to cut back on its store footprint.
SALES ON NOW
Shoppers can score 30% off storewide, according to a press release from the retailer.
The sales are expected to run until all merchandise, fixtures, and store equipment is sold.
The raft of closures come as the chain battles mounting debt, economic headwinds and shifting trade policies.
In June, At Home announced plans to shutter 26 locations across 12 states as part of its bankruptcy proceedings.
Court filings later revealed that two stores had been removed from the closing list and would continue normal operations.
RETAIL APOCALYPSE
At Home’s bankruptcy filing comes as a number of other retailers face similar economic challenges.
The U.S. Sun reported in January that an estimated 15,000 store closures were expected to occur this year, a figure which has almost doubled since 2024.
How does bankruptcy work?
Bankruptcy is a specific legal process that helps companies eliminate debt they can’t repay.
The process allows businesses to start fresh and gain access to new credit.
Supervised by federal courts, bankruptcies allow a company to sell off its assets more easily to pay off creditors, according to Investopedia.
Chapter 11, a common process for companies, is used to restructure a business with the goal of remaining open – even if it means selling off most of the company’s properties.
Chapter 7, on the other hand, sells all of a company’s assets, putting it out of business.
Chapter 15, alternatively, allows for collaboration between American and foreign courts to conduct bankruptcy proceedings with “parties of interest involving more than one country,” per the United States Courts.
Experts are calling it a “retail apocalypse”, with shut downs expected to surpass store openings.
“We’re expecting elevated closure numbers to persist in 2025 as we are expecting this to be a period of disruption and adjustment – from newer, high-growth competitors and from policy changes,” John Mercer, head of global research for Coresight Research, told The U.S. Sun in January.
Retailers are not the only ones struggling to stay afloat – the restaurant industry has been hit hard by macroeconomic challenges as well.
For example, an Italian dining staple filed for bankruptcy again – your favorite locations are on the chopping block.
Plus, a beloved fast food chain filed for bankruptcy despite a popularity surge in the “chicken wars” as the brands fight for the top spot.
