At Home, the home decor and furniture retailer with more than 200 locations in the United States, has filed for Chapter 11 bankruptcy as part of a restructuring plan. The move aims to eliminate $2 billion in debt while securing new capital to stabilize operations.
Restructuring to Address Debt and Ownership
The Plano, Texas-based company announced Monday that the filing will provide $200 million in capital and facilitate a transition of ownership to its lenders, who currently hold over 95% of its debt. At Home has struggled in recent months, facing rising tariffs and weaker consumer demand for home furnishings.
Store Closures Announced
As part of the restructuring, 26 At Home stores across the country are scheduled to close. The closures affect locations in several states, including California, New York, Florida, and Illinois.
Company Cites Trade Environment Challenges
CEO Brad Weston acknowledged the company’s challenges, citing “an increasingly dynamic and rapidly evolving trade environment” and the ongoing impact of tariffs. He expressed confidence that the restructuring will enhance the company’s ability to compete and strengthen its long-term business resilience.
History of At Home
Originally founded as Garden Ridge Pottery in 1979 in Schertz, Texas, At Home expanded to 260 locations in 40 states. The retailer offers a variety of home goods, including furniture, rugs, bedding, and kitchenware. The company is currently owned by private equity firm Hellman & Friedman.
Industry Pressures and Consumer Slowdown
Neil Saunders, managing director at GlobalData, noted that At Home’s difficulties extend beyond debt. A slowdown in consumer demand for home furnishings, weak consumer confidence, and a sluggish housing market have added to the retailer’s financial pressures. He stated that these conditions are unlikely to improve in the near term.
Bankruptcy Proceedings and Broader Retail Struggles
The Chapter 11 proceedings are taking place in the U.S. Bankruptcy Court for the District of Delaware. At Home’s filing follows a wave of financial difficulties for other retailers, with companies like The Container Store and Big Lots also filing for bankruptcy over the past year.
List of Store Closures
The following 26 At Home locations are slated for closure:
- 6135 Junction Blvd, Rego Park, NY 11374
- 300 Baychester Ave, Bronx, NY 10475
- 750 Newhall Dr, San Jose, CA 95110-1106
- 2505 El Camino Real, Tustin, CA 92782
- 14585 Biscayne Blvd, North Miami, FL 33181-1209
- 2200 Harbor Blvd, Costa Mesa, CA 92627
- 3795 E Foothills Blvd, Pasadena, CA 91107
- 1982 E 20Th St, Chico, CA 95928
- 2820 Hwy 63 South, Rochester, MN 55904-5571
- 26532 Towne Center Drive Suites A-B, Foothill Ranch, CA 92610
- 1001 E Sunset Drive, Bellingham, WA 98226
- 8320 Delta Shores Circle S., Sacramento, CA 95832
- 1361 NJ-35, Middletown Township, NJ 07748
- 2900 N Bellflower Blvd, Long Beach, CA 90815
- 720 Clairton Blvd, Pittsburgh, PA 15236
- 2530 Rudkin Road, Yakima, WA 98903
- 571 Boston Turnpike, Shrewsbury, MA 01545
- 5203 W War Memorial Dr, Peoria, IL 61615
- 8300 Sudley Rd., Manassas, VA 20109
- 461 Route 10 East, Ledgewood, NJ 07852
- 301 Nassau Park Blvd., Princeton, NJ 08540
- 300 Providence Highway, Dedham, MA 02026
- 905 S 24Th Street W, Billings, MT 59102
- 19460 Compass Creek Pkwy, Leesburg, VA 20175
- 3201 North Mayfair Road, Wauwatosa, WI 53222
- 13180 S Cicero Avenue, Crestwood, IL 60445
At Home’s bankruptcy filing reflects ongoing challenges facing the retail sector, including shifting consumer demand and broader economic pressures. The restructuring aims to reduce debt and strengthen the company’s financial position amid continued volatility in the home furnishings market.
