Latest news with #AtHomeGroup
Bloomberg
28-05-2025
- Business
- Bloomberg
Retailer At Home Prepares to File for Bankruptcy in Coming Weeks
At Home Group Inc. is preparing to file for bankruptcy under a Chapter 11 reorganization in the coming weeks, among other options to shore up liquidity, according to people with knowledge of the matter. The Hellman & Friedman -owned home-decor retailer has been facing a cash crunch in recent months, which has been complicated further by the US' tariffs and trade war.
Miami Herald
14-04-2025
- Business
- Miami Herald
Another national furniture company warns of bankruptcy
Right now, one of the hardest market segments in which to operate a business is the brick-and-mortar retail space. Of course, the same could have probably been said several years ago, when we were in the throes of Covid. Related: Huge furniture company closing forever, laying off staff Five years ago, for example, the sky came crashing down on retailers that depended on in-person sales and high foot traffic. Covid shuttered entire cities across the U.S., and in its path, thousands of restaurants and retail businesses suffered. This was particularly the case for smaller, mom-and-pop operations that didn't have the resources to build up a robust online e-commerce presence in the midst of a pandemic. So many of them faltered and ultimately went under. Several years on, though, some retailers are beginning to find their footing again. Shoppers have returned, and while inflation is taking longer than usual to tame, shopping activity had more or less resumed back to the so-called normal baseline. Until a new boogeyman emerged. Image source: Shutterstock Covid, a five-letter word that used to strike fear in the heart of any self-respecting business, has now been swapped out for a new six-letter word. That word is tariffs, and it's already taken many investors and businesses on an emotional roller coaster. More closings: Iconic retail chain closing nearly 500 storesAnother discount retailer closing over 1,000 storesAnother struggling mall retail chain closing more stores President Donald Trump's proposed duties on some of America's biggest trade partners have spooked almost every major retailer that imports goods from abroad. It's already claimed furniture giant Progressive Furniture, which is closing up operations by the end of 2025. It claims it can no longer operate profitably, since it relies on materials from Mexico and China, and is laying off 30 of its staff members. But others are struggling, too. At Home Group may soon file for bankruptcy as it grapples with financial difficulties and debt issues. The Coppell, Tex.-based furniture and home decor store has a large amount of debt and relies heavily on imported goods from abroad. Related: Another discount retailer closing over 1,000 stores Trump's tariffs are only placing further strain on its struggling business, and the retailer may have no choice but to file for bankruptcy, per a WSJ report. At Home Group grew steadily in recent years, as folks spent more time at home and redecorating. It has 260 locations across the U.S. in 40 states. But such a wide footprint has proven troublesome as imported goods are about to get much more expensive. At Home Group was acquired in 2021 by Hellman & Friedman, a private equity firm, for $2.8 billion. At Home Group is currently working with investment bank PJT Partners and operational adviser AlixPartners LLP. It has not commented on the matter. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
