Home decor and furniture retailer At Home is seeking to close 26 “underperforming” stores nationwide, including several California locations, by fall.
The Texas-headquartered company initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, At Home announced on Tuesday, June 16. The bankruptcy filing is to implement the terms of their restructuring support agreement with lenders, the company said.
The financial restructuring will “eliminate substantially all of the company’s nearly $2 billion in funded debt and provide a capital infusion of $200 million to support the company through its restructuring process and beyond.”
At Home is looking to close 26 “underperforming” stores, “with the potential to close additional underperforming stores in the future,” according to court filings.
Court filings describe At Home’s financial challenges in recent years, from a “tumultuous” shipping environment that includes spikes in costs and unpredictable delays and surcharges, consumers shifting toward online shopping and tariffs.
Brad Weston, chief executive officer of At Home, described the company’s efforts in recent months to “strengthen the foundation” of the business in a statement in At Home’s announcement on June 16.
“These efforts are aimed at delivering sustained sales growth, optimizing our inventory management, improving efficiency, and enhancing overall profitability,” Weston said. “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.
Weston said At Home’s latest efforts 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.”
Which At Home stores are closing in California?
These stores are expected to be closed by Sept. 30 of this year, according to court filings.
How many At Home stores are there?
At Home said it currently operates 260 stores across 40 states.
Paris Barraza is a trending reporter covering California news at The Desert Sun. Reach her at pbarraza@gannett.com.
This article originally appeared on Palm Springs Desert Sun: Home decor chain At Home to close ‘underperforming’ stores across US. See which in California
Reporting by Paris Barraza, Palm Springs Desert Sun / Palm Springs Desert Sun
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