It looks as if another retail store may become a part of history. At Home Group Inc. operates more than 250 stores across the United States and territories. Sadly, continued cash flow problems could mean the brand’s end. According to the New York Post, sources told Bloomberg News the company missed an interest payment. At Home reportedly entered a forbearance agreement with its lenders on May 23 to give temporary relief from creditor action. The company has until the end of June to come up with funds.
Videos by InspireMore
“At Home is actively collaborating with our financial stakeholders and have put forbearance agreements in place with respect to certain interest payments under the company’s debt instruments,” a spokesperson shared in an email with Bloomberg News. “These agreements provide us flexibility as we continue to take steps to position At Home for near and long-term success.”
At Home Will Likely File For Bankruptcy
Per the Post, the company is preparing to file for Chapter 11 bankruptcy in hopes of saving the brand. The company’s financial situation appears to be worsening amid US tariffs and a struggling economy.
In 2024, the company brought in Brad Weston as Chief Executive Officer. The company announced his appointment in a statement online.
“We are excited to welcome Brad, a proven leader with a distinguished track record of transforming and scaling world-class retail companies,” said Erik Ragatz, Executive Chairman of At Home. “Brad’s customer-centric vision and purpose-led leadership approach align perfectly with At Home’s culture and mission to enable everyone to make their house a home. As we enhance and expand our business, inspiring customers with a disruptive offering of a broad and differentiated selection of home and holiday products for every budget, Brad is the ideal person to drive At Home forward in our next chapter of growth.”
This story’s featured image is by TommyStockProject via Shutterstock.
Want to be happier in just 5 minutes a day? Sign up for Morning Smile and join over 455,000+ people who start each day with good news.
