At Home, which has 260 stores across 40 states, filed for voluntary Chapter 11 bankruptcy, according to a release from the company.
DALLAS — At Home, the North Texas-based home goods and furniture chain, has entered into bankruptcy proceedings “in the face of continued volatility” amid recent tariffs, company officials announced Monday.
At Home, which has 260 stores across 40 states, filed for voluntary Chapter 11 bankruptcy, according to a release from the company.
At Home, which has its headquarters based in Coppell, remains in operation despite the bankruptcy, although the Wall Street Journal last week reported that the company is planning to close around 20 stores as part of the bankruptcy.
“We are pleased to have reached this agreement with our lenders, which represents a critical and positive advancement of our work to best position At Home for the future,” Brad Weston, Chief Executive Officer of At Home, said in a release. “Over the past several months, we’ve taken deliberate steps to strengthen the foundation of our business – sharpening our focus, elevating our customer value proposition, and driving operational discipline. These efforts are aimed at delivering sustained sales growth, optimizing our inventory management, improving efficiency, and enhancing overall profitability.”
As part of the bankruptcy proceedings, At Home entered a “Restructuring Support Agreement” with lenders that hold around 95% of the company’s debt, according to the announcement. The agreement will “eliminate substantially all” of At Home’s nearly $2 billion in debt and give the company $200 million in capital to get through the restructuring process, company officials said.
When the restructuring process is completed, At Home’s ownership will be transitioned to those lenders, the announcement said.
At Home, which was renamed from Garden Ridge in 2013, has an array of home decor and furniture items, from kitchen and dining sets to outdoor patio furniture and rugs.