At Home has announced further store closures amid its Chapter 11 bankruptcy proceedings to manage over $2 billion in debt. The retailer reported declining sales linked to inflationary pressures, reduced foot traffic, and rising tariffs. These economic factors are straining the company's finances, prompting the need for bankruptcy protection. CEO Brad Weston indicated that tariffs have negatively impacted profits and expenses in the home goods industry. The retailer aims to improve its competitive position amidst ongoing financial challenges and market volatility.
In June, At Home Group announced that it would file for Chapter 11 bankruptcy protection as it struggled under $2 billion worth of debt and sales challenges.
Inflationary pressures lead to both higher prices in stores as well as a more cautious consumer, reluctant to spend their declining purchasing power on discretionary goods.
Trump's tariffs, which are taxes placed on companies importing goods into America, are raising expenses for those companies, which leads to decreased profits and more debt.
At Home CEO Brad Weston said, '[We] are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs.'
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