(NEXSTAR) – At Home, a Texas-based home décor chain with 260 stores in 40 states, has filed for Chapter 11 bankruptcy protection amid a restructuring of the company.
At Home Group, Inc., announced the move on Monday, adding that the company plans to undergo “a transition of ownership” after the restructuring process.
At Home is currently seeking to get rid of almost $2 billion in debt, according to a press release issued Monday. A group of lenders have also extended $200 million in funding to keep operations running amid the restructuring process, according to At Home.
List: More than 700 Rite Aid locations now expected to close. Here’s where
“We are grateful to be moving forward with significant support from our financial stakeholders, which demonstrates their confidence in our business and our future strategy,” CEO Brad Weston said in the release. “Upon emergence from the prearranged restructuring process, At Home will move forward with new owners and a meaningfully strengthened balance sheet.”…