Popular home goods chain files for bankruptcy amid tariff trouble
At Home, a popular home goods retailer with 260 stores across 40 US states, has filed for bankruptcy, citing the backdrop of tariff increases and a slowdown in consumer spending.
The Dallas-based company announced Monday that it had entered an agreement with its lenders that 'will eliminate substantially all' of its roughly $2 billion in debt and provide $200 million in fresh funding to keep At Home operating while it navigates the Chapter 11 process.
Brad Weston, At Home's CEO who joined the company last year, said in a statement that the company is 'operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs' and that the changes '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.'
Businesses across the United States are grappling with uncertainty about tariffs, including on the countries from which At Home sources its products, notably China. At one point, American tariffs on that country were as high as 145% before an agreement last month to temporarily lower that to 30%.
A pullback in discretionary spending in the US in recent years has also spelled trouble for the home goods industry, with The Container Store, Bed Bath & Beyond and Big Lots all filing for bankruptcy.
At Home, which sells a wide variety of items such as furniture, rugs and other home accessories, said it would continue to operate as usual, including fulfilling orders, paying vendors and maintaining its loyalty program during the Chapter 11 process.
However, the privately held company hinted that it might close some locations, saying that a 'majority of our stores will remain open.' The Wall Street Journal recently reported that around 20 At Home locations were set to shutter.
Upon exiting Chapter 11, At Home 'will move forward with new owners and a meaningfully strengthened balance sheet,' Weston said.
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("Omni"), at by calling Omni toll-free at (888) 818-9346 or (747) 293-0014 for calls originating outside of the U.S. or Canada, or by sending an email to AtHomeInquiries@ Advisors Kirkland & Ellis is serving as legal counsel, PJT Partners is serving as financial advisor, AlixPartners is serving as restructuring advisor and Hilco Real Estate is serving as real estate consultant to At Home. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor. Dechert LLP is serving as legal counsel and Evercore Group LLC is serving as financial advisor to the ad hoc group of lenders. About At Home: AT HOME believes your home should be a reflection of your personal style – warm, thoughtful and inviting. As your go-to source for design and decorating inspiration, AT HOME offers exclusive, elevated collections that blend value with distinctive style. The Company is passionate about helping customers Design Their Life AT HOME with beautiful, accessible solutions that inspire and engage. Headquartered in Coppell, Texas, AT HOME currently operates 260 stores in 40 states. For more information, please visit us online at View source version on Contacts For MediaJoele Frank, Wilkinson Brimmer KatcherMeaghan Repko / Aaron Palash / Carly King212-355-4449For LandlordsHilco Real Estate, LLCDaniel O'Briendobrien@ 847-504-2475Adam Humerickahumerick@ 847-504-3265
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