Big Changes Ahead for At Home Stores

At Home, the company known for selling home decor and furniture, is going through a big change. The firm has more than 200 stores across the United States. They have decided to file for Chapter 11 bankruptcy. This move is part of a plan to fix their financial problems. The goal is to get rid of $2 billion in debt and bring in $200 million to help with the restructuring. This decision comes after months of struggles. The company missed an interest payment in May. This led to a deal with lenders to delay payment. The company is based in Plano, Texas. It is owned by Hellman & Friedman. The CEO, Brad Weston, talked about the challenges. He mentioned the tough trade environment and the impact of tariffs. He hopes these steps will help the company compete better in the future. At Home started as Garden Ridge Pottery in 1979. The first store opened in Schertz, Texas. Since then, it has grown to 260 locations in 40 states. The stores sell a wide range of items. These include rugs, furniture, bedding, and kitchenware. It is not clear if any stores will close. The company says most stores will stay open. They will continue to serve customers both in-store and online. The company is facing more than just debt problems. There is also a slowdown in consumer demand for home furnishings. This is partly due to low consumer confidence and a sluggish housing market. These issues are not likely to go away soon. The bankruptcy proceedings are happening at the U. S. Bankruptcy Court for the District of Delaware. Other large retailers have also faced financial troubles recently. The Container Store and Big Lots filed for bankruptcy last year.