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At Home Décor Retailer to Close 26 Underperforming Stores
Home décor retailer At Home announced the closure of 26 underperforming stores as part of its Chapter 11 bankruptcy proceedings filed last week. The closures, overseen by Hilco Consumer-Retail, will affect stores across multiple states, including California, Massachusetts, New York, Minnesota, Washington, and Oregon, and are expected to be completed by September 30, 2025. Six additional inactive locations will also be shuttered.
Citing economic pressures and industry headwinds, the nearly 50-year-old company, with over 260 locations in 40 states, will begin liquidation sales at the affected stores starting June 19. Discounts of up to 30% will be offered on home décor, store fixtures, furniture, and other equipment.
Customers can make returns and use gift cards at these locations through July 2. Remaining At Home stores and online operations will continue normal business.
At Home plans to transfer ownership to its lenders, primarily hedge funds and investment firms, as part of its restructuring plan. The company aims to eliminate nearly $2 billion in debt, supported by a $200 million investment to stabilize operations.
This news follows other retail chain struggles, including Rite Aid’s recent announcement of 118 additional store closures, bringing their total to 947. Once boasting over 40,000 stores in the 1990s, Rite Aid now operates only 1,400, reflecting changing industry trends and consumer habits. Competitors CVS and Walgreens are also facing challenges, with Walgreens planning over 1,200 store closures in the next three years and CVS implementing a $2 billion cost reduction plan that includes job cuts and closures.