Chapter\u202f11 will slash $2\u202fbillion in debt and inject $200\u202fmillion in fresh cash, but 26 locations will vanish by September.<\/p>\n\n\n\n
Plano\u2011based At Home, once branded Garden Ridge Pottery, confirmed the filing Monday after missing a May\u202f15 interest payment. The popular d\u00e9cor warehouse still runs more than 200 stores, yet executives say shrinking the least\u2011profitable sites is critical to survive steep tariffs, stubborn inflation, and softer demand.<\/p>\n\n\n\n
Company filings show revenue pressure from tariffs shaved margins throughout 2024, while financing costs ballooned. By converting roughly $2\u202fbillion in obligations into equity controlled by lenders holding 95\u202fpercent of the debt, management hopes to stabilize cash flow and keep vendors paid. Chief executive Brad Weston calls the plan \u201ca reset, not a retreat.\u201d<\/p>\n\n\n\n
Every shuttered big\u2011box typically employs 40\u202fto\u202f60 associates, meaning several hundred jobs are on the line. Landlords of suburban power centers may also face vacancies just as financing tightens. Will shoppers migrate online, or will competitors such as HomeGoods swoop in? Analysts warn the ripple effect could amplify if liquidation sales drag into autumn.<\/p>\n\n\n\n
Court documents set July\u202f25 as the deadline for creditors to file claims and early August for a confirmation hearing. Store\u2011closing sales are expected to launch in mid\u2011July, starting around 10\u202fpercent off and deepening weekly. <\/p>\n\n\n\n
Got a gift card? Use it before final checkout, because outstanding merchandise credits expire when the doors lock. Wondering if your favorite warehouse made the cut? Check the quick tally below.<\/p>\n\n\n\n