At home, the Big-Box decoration and furniture brand is the most recently of a series of home articles stores, including large lots and true value, to declare in bankruptcy in recent months. Today, the company announced that it is seeking protection of chapter 11 after the costs related to the rate, inflation and reduced pedestrian traffic have a sales bite.
The company, owned by Hellman & Friedman and operates 260 stores in the United States, has signed an agreement with its lenders that seek to eliminate the company’s $ 2 billion in the debt while providing $ 200 million.
CEO Brad Weston said in a press release that at home it is operating against a “fast evolution commercial environment as we sail through the impact of rates” and that the changes are destined to help the company compete in a more volatile market.
In home financial problems are found in the back of closures for several similar brands. In 2024, the Big Lots discount retailer was also declared in bankruptcy of Chapter 11 and planned to close all its 800 locations before they finally bought it and kept it in Afoat for a new owner (designed on a much smaller scale). And this May, the beloved arts and crafts retailer, Joann’s, closed its doors permanently after a bankruptcy process. Now, at home it will be the last retailer of goods at home in trying to keep its opening while sailing through the bankruptcy process.
26 stores are expected to close
Currently, at home he uses more than 7,000 workers in 40 states. According to a presentation in the bankruptcy court, the brand has had problems in recent years due to “reduced pedestrian traffic in stores, successful competition and retailers outside the price that offer substantial discounts and a demand for disparity.” Around the last year, at home he has already closed six stores, but reports that several removal stores are still operating in “Subóptimos Performance levels.”
To change things, at home he informed that he will begin by the transition of the company’s property to its lenders, which should have more than 95% of its debt. Restructuring is also expected to result in several store closures. According to the presentation: “Ultimately, the management team and the advisors of the debtors determined that it is appropriate to start the closures of 26 brick and low -performance mortar stores, with the potential to close additional stores in the future.”
The 26 stores are expected to be sold and vacancies before September 30, 2025. Here are the stores that are expected to close:
- 750 Newhall Dr., San José, Ca
- 2505 tablespoons of Camino Real, tustin, ca
- 2200 Harbor Blvd., Costa Mesa, Ca
- 3795 E FAOTHILLS BLVD., Pasadena, ca
- 1982 E 20th St., Chico, Ca
- 26532 Towne Center Dr., Suites AB, Fothill Ranch, Ca
- 2900 N. BELLFLOWER BLVD., Long Beach, CA
- 8320 Delta Shores Circle S., Sacramento, ca
- 14585 Biscayne Blvd., North Miami, FL
- 5203 W. War Memorial Dr., Peoria, Il
- 13180 S. Cicero Ave., Crestwood, Il
- 300 providence highway, dedham, ma
- 571 Boston Turnpike, Shrewsbury, Mon
- 2820 HWY. 63, South Rochester, mn
- 905 S 24th St. W., Billings, Mt
- 1361 NJ-35, Middletown Township, NJ
- 461 Route 10, East Ledgewood, NJ
- 301 Nassau Park Blvd., Princeton, NJ
- 6135 Junction Blvd., Rego Park, NY
- 300 Baychester Ave., Bronx, NY
- 720 CLIRIRTON BLVD., Pittsburgh, Pa
- 8300 SULEY RD., MANASSAS, VA
- 19460 Compass Creek Pwy., Leesburg, Va
- 1001 E Sunset Dr., Bellingham, WA
- 2530 Rudkin Rd., Yakima, Wa
- 3201 North Mayfair Rd., Wauwatosa, Wi