At Home, a major home decor retailer, has filed for Chapter 11 bankruptcy due to increasing tariff costs, inflation, and dwindling customer foot traffic. The company, owned by Hellman & Friedman and operating 260 stores, aims to eliminate $2 billion in debt while securing $200 million in new funding to support its restructuring. CEO Brad Weston states that At Home is adapting to a rapidly changing trade environment to remain competitive. This move follows similar actions by other retailers like Big Lots and Joann's, highlighting the retail sector's struggles.
At Home is seeking Chapter 11 protection due to rising costs related to tariffs and inflation and decreased foot traffic leading to a significant decline in sales.
CEO Brad Weston highlighted that the company is navigating a rapidly evolving trade environment and taken measures to remain competitive in a volatile marketplace.
Currently, At Home overcomes the challenges facing the retail sector, including reduced foot traffic, competition from off-price retailers, and the need for an inventory overhaul.
The restructuring plan aims to eliminate $2 billion in debt while offering $200 million in funding to sustain operations throughout the bankruptcy process.
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