Less than a month after rumors began to circulate that At Home could be in trouble financially, At Home Group Inc. officially filed for bankruptcy. The Trump administration’s tariffs appear to have been the nail in the coffin for the retailer that relies heavily on Chinese imports. According to a news release, the Texas-based retailer plans to maintain business as usual during the bankruptcy proceedings. With nearly $2 billion in debt, At Home entered a Restructuring Support Agreement to save the home decor retailer. With more than 250 stores nationwide, closures would be a blow to the industry.
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At Home Leaders Feel Confident About Moving Forward After Bankruptcy
At Home Chief Executive Officer Brad Weston feels optimistic about the retailer’s future. He shared his enthusiasm in a news release.
“We are pleased to have reached this agreement with our lenders, which represents a critical and positive advancement of our work to best position At Home for the future,” he said. “Over the past several months, we’ve taken deliberate steps to strengthen the foundation of our business – sharpening our focus, elevating our customer value proposition, and driving operational discipline. These efforts are aimed at delivering sustained sales growth, optimizing our inventory management, improving efficiency, and enhancing overall profitability. While we have made significant progress advancing our initiatives to date, we are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs. The steps we are taking today to fully de-lever our balance sheet will improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business for the long term.”
According to Furniture Today, At Home plans to close the following 25 locations.
New York: Rego Park, Bronx
California: San Jose, Tustin, Costa Mesa, Pasadena, Chico, Foothill Ranch, Sacramento, Long Beach
Florida: North Miami
Minnesota: Rochester
Washington: Bellingham, Yakima
New Jersey: Middletown Township, Ledgewood, Princeton
Pennsylvania: Pittsburgh
Massachusetts: Shrewsbury, Dedham
Illinois: Peoria, Crestwood
Virginia: Manassas, Leesburg
Montana: Billings
Wisconsin: Wauwatosa
This story’s featured image is by Red Herring via Shutterstock.
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