Popular home decor retailer At Home is a one-stop shop for everything you need when designing your space. But there could be trouble on the horizon for its financial future. After missing an interest payment in mid-May, talks of filing for bankruptcy have begun.
The potential bankruptcy is hot on the heels of Joann Fabrics’ declaration of shutting down all of its stores, and At Home customers aren’t sure whether to expect the same for the furnishing chain.
Will At Home Close Its Stores?
We don’t yet have any official news on whether At Home will be closing some or all of its stores in the future; At Home currently boasts around 260 stores total across 40 U.S. states. If the chain can turn things around financially, we may see many of its locations remain open. But if At Home does end up filing for bankruptcy, the retailer may begin shutting down certain locations. This doesn't necessarily mean all stores will close, but rather At Home will refocus its efforts on a smaller number of locations.
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Why At Home Could File for Bankruptcy
At Home has been facing obstacles with its manufacturing chain, as many of its products are made in China. The brand cited the impact of tariffs as the primary reason why it’s been having financial issues as of late. To combat this, At Home hopes to move its supply chain to other countries to lower future costs. This could also help keep the brand's prices low for all of its customers.
Fortunately, it seems like there’s still hope for At Home. The chain has entered a forbearance deal that extends through June 30. While At Home has not yet filed for bankruptcy, the chain is supposedly preparing to file for Chapter 11 bankruptcy.
As of now, the retailer is still working with its stakeholders to determine its next steps, which means that At Home fans have a lot to be hopeful about.
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