American Freight's closure of all California locations highlights severe challenges in the home goods industry, exacerbated by a weak housing market and financial stress for lower-income households.
According to Hilco CEO Ian Fredericks, 'Everything is on sale and must be sold,' indicating the urgency of American Freight's liquidation efforts and the significant discount available to consumers.
The downturn of American Freight reflects broader economic issues faced by retailers in the home goods sector, including high mortgage rates that have reduced home-related spending due to declining home purchases.
The chain's operational struggles were intensified by the financial troubles of its owning company, Franchise Group, leading to the decision to close 328 locations across the nation.
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