At Home Files for Bankruptcy Amid Economic Pressures
Home decor retailer At Home has officially declared bankruptcy, citing increasing tariffs and declining consumer spending as key factors impacting its financial stability. This filing adds to a growing list of significant retailers facing similar challenges, highlighting the ongoing difficulties in the retail sector.
Details of the Bankruptcy Filing
At Home, headquartered in Coppell, Texas, submitted its Chapter 11 bankruptcy filing on June 16. The company’s financial documents revealed that “broader economic and retail-specific market pressures” were behind this tough decision. The chain, which once employed around 7,170 workers, is set to close 26 underperforming locations by fall, although it recently confirmed that two stores will remain operational.
Store Closures and Retentions
Remaining Open
The following At Home locations in New Jersey and Wisconsin will continue to serve customers:
- 3201 N. Mayfair Road, Wauwatosa, Wisconsin
- 301 Nassau Park Boulevard, Princeton, New Jersey
Closing Locations
By September 30, the following stores will be closed:
- 6135 Junction Boulevard, Rego Park, New York
- 300 Baychester Ave., Bronx, New York
- 750 Newhall Drive, San Jose, California
- 2505 El Camino Real, Tustin, California
- 14585 Biscayne Boulevard, North Miami, Florida
- 2200 Harbor Boulevard, Costa Mesa, California
- 3795 E. Foothills Boulevard, Pasadena, California
- 1982 E. 20th St., Chico, California
- 2820 Highway 63 South, Rochester, Minnesota
- 26532 Towne Center Drive, Suites A-B, Foothill Ranch, California
- 1001 E. Sunset Drive, Bellingham, Washington
- 8320 Delta Shores Circle South, Sacramento, California
- 1361 NJ-35, Middletown Township, New Jersey
- 2900 N. Bellflower Boulevard, Long Beach, California
- 720 Clairton Boulevard, Pittsburgh, Pennsylvania
- 2530 Rudkin Road, Yakima, Washington
- 571 Boston Turnpike, Shrewsbury, Massachusetts
- 5203 W. War Memorial Drive, Peoria, Illinois
- 8300 Sudley Road, Manassas, Virginia
- 461 Route 10 East, Ledgewood, New Jersey
- 300 Providence Highway, Dedham, Massachusetts
- 905 S 24th St. West, Billings, Montana
- 19460 Compass Creek Parkway, Leesburg, Virginia
- 13180 S. Cicero Ave., Crestwood, Illinois
Reasons Behind the Bankruptcy Filing
The bankruptcy declaration arose from multiple economic challenges, including rising interest rates, persistent inflation, and unsustainable customs costs due to increased tariffs. These factors have strained At Home’s operations, pushing several of its locations to underperform or operate below optimal levels. Court documents indicated that the retail chain has already shuttered six stores in the past year due to these ongoing issues.
Ownership of At Home will transition to a consortium of hedge funds and investment firms based in New York City and San Francisco, as per the information released.
Conclusion
The bankruptcy filing of At Home serves as a significant reminder of the evolving challenges within the retail landscape. As the company adjusts to economic pressures, it remains to be seen how the restructuring will impact its future and the home decor market overall. For more insights on furniture trends and decor ideas, visit ChatbiHouse blog.
