At Home to Close 30 Stores After Bankruptcy Filing Amid High Debt and Dwindling Sales.

At Home, a home goods retailer, is closing 30 stores across the US after filing for Chapter 11 bankruptcy. The company cited "broader economic and retail-specific market pressures" as the reason for the bankruptcy. At Home initially announced 26 store closures in June, but later pared that down to 24. The company employed about 7,170 employees when it filed for bankruptcy protection.

Home goods retailer At Home has announced the closure of 30 stores across the United States following its Chapter 11 bankruptcy filing. The company cited "broader economic and retail-specific market pressures" as the primary reason for the bankruptcy [2]. Initially, At Home had announced 26 store closures in June, but later revised this number to 24. The company employed approximately 7,170 employees when it sought bankruptcy protection [2].

At Home's bankruptcy filing was preceded by several economic challenges, including rising interest rates, persistent inflation, and increasing customs costs due to tariffs. These factors have led to sub-optimal performance levels for many of the retailer's remaining stores [2]. The company's bankruptcy process aims to eliminate $2 billion in debt and secure new funding to support its restructuring efforts [1].

The list of stores set to close includes locations in California, Florida, Illinois, Michigan, Minnesota, New Jersey, New York, Pennsylvania, Texas, Utah, Virginia, and Washington. Hilco Consumer-Retail, a firm retained to manage At Home's store closings, has advised customers to consult shopgenius.com to find the nearest closing store [1].

At Home's bankruptcy is part of a broader trend of retail store closures in the United States. Other "big box" retailers such as Big Lots, True Value, Joann Fabrics, Kohl's, JCPenney, Macy's, and Party City have also significantly downsized their brick-and-mortar footprints this year [2].

References:
[1] https://www.newsweek.com/home-stores-closing-full-list-locations-2108525
[2] https://finance.yahoo.com/news/home-closing-more-stores-bankruptcy-222201807.html