When a store becomes an icon of our youth, it seems hard to imagine that one day it could disappear. Many times, we believed that those store chains would remain forever, becoming part of our daily lives. However, as many have already learned the hard way, nothing should ever be taken for granted.
This is exactly what's happening with At Home. A chain that has suddenly started closing several of its locations in the United States, sparking rumors about a possible bankruptcy.
At home files for bankruptcy and announces a restructuring in the United States
Founded in 1979 under the name Garden Ridge, At Home has been a home décor chain that reached 260 stores in 40 states. Known for offering products at competitive prices, the company became a go-to place for those seeking home solutions. However, the economic landscape has taken an unexpected turn, and what once seemed like a retail giant now faces financial difficulties.
On June 16, At Home filed for bankruptcy under Chapter 11 in the United States Bankruptcy Court for the District of Delaware. The chain cited high costs from tariffs and a slowdown in consumer spending as the main reasons. This measure will allow it to reorganize its finances and seek a way out of the crisis it faces.
As part of the process, At Home signed a Restructuring Support Agreement (RSA), which will allow it to eliminate about $2 billion (€2.000 millones) in debt. In addition, the company has secured $200 million (€200 millones) in financing to support its restructuring process. The company's goal is to emerge from this crisis with a greater ability to compete in the market, adapting to economic volatility.
The impact of At Home's restructuring: the closure of 26 stores
One of the most immediate results of this bankruptcy is the closure of 26 stores across the United States. These locations, which are among the underperforming ones, will close permanently before September 30. This is the list of stores that will close:
- 19460 Compass Creek Parkway in Leesburg, Virginia.
- 1361 NJ-35 in Middletown Township, New Jersey.
- 2820 Highway 63 South in Rochester, Minnesota.
- 1001 E. Sunset Drive in Bellingham, Washington.
- 3795 E. Foothills Boulevard in Pasadena, California.
- 301 Nassau Park Boulevard in Princeton, New Jersey.
- 720 Clairton Boulevard in Pittsburgh, Pennsylvania.
- 2505 El Camino Real in Tustin, California.
- 2900 N. Bellflower Boulevard in Long Beach, California.
- 8320 Delta Shores Circle South in Sacramento, California.
- 6135 Junction Boulevard in Rego Park, New York.
- 26532 Towne Center Drive Suites AB in Foothill Ranch, California.
- 14585 Biscayne Boulevard in North Miami, Florida.
- 2530 Rudkin Road in Yakima, Washington.
- 1982 E. 20th St. in Chico, California.
- 2200 Harbor Boulevard in Costa Mesa, California.
- 5203 W. War Memorial Drive in Peoria, Illinois.
- 905 S 24th St. West in Billings, Montana.
- Route 10 East 461 in Ledgewood, New Jersey.
- 13180 S. Cicero Ave. in Crestwood, Illinois.
- 301 Nassau Park Boulevard in Princeton, New Jersey.
- 19460 Compass Creek Parkway in Leesburg, Virginia.
- 5203 W. War Memorial Drive in Peoria, Illinois.
- 3795 E. Foothills Boulevard in Pasadena, California.
These stores, which represent a fraction of At Home's total network, will be closed as part of an effort to make the company more profitable. Although this news is a blow for many of its customers, the restructuring is intended to ensure the chain's long-term viability.
With the promise of a new chapter, At Home seeks to overcome this difficult financial stage. However, uncertainty remains in the air, and it will be interesting to see how the coming months unfold for this iconic retail chain.