At Home closes 29 unprofitable stores
Furniture and home decor retailer At Home will close 29 “unprofitable” stores by the end of September as part of its bankruptcy proceedings.
Unbranded – Newsworthy
Value City Furniture’s parent company has filed for bankruptcy, selling company assets and announcing plans to close additional stores, this time in North Carolina and other states.
The company, American Signature, announced its filing for Chapter 11 bankruptcy in a press release on Sunday, November 23rd. According to U.S. courts, the filing typically allows companies to reorganize with the hope of continuing operations and repaying creditors over time.
In October, American Signature announced plans to close four stores in Tennessee. The company then made plans to close or hold liquidation sales at dozens of stores, including one in Charlotte, North Carolina.
Columbus, Ohio-based American Signature has more than 1,000 creditors, more than $100 million in assets and more than $500 million in debt, according to court documents obtained by USA TODAY.
“We expect the future of our store footprint to be determined by the outcome of the sales process,” the company said in a statement to USA TODAY on Nov. 24. “We thank our employees and customers for their continued support and remain committed to delivering the exceptional style, value and service that shoppers know and trust.”
American Signature has already begun its store closing sale, and said in a press release that it will offer “deep discounts” while products remain.
The company also said in a Nov. 24 statement to USA TODAY that Value City Furniture and American Signature Furniture stores and websites will remain open until further notice.
The company said in a press release that it will continue to fulfill customer orders and provide customer service during the application process. The company said in a press release that there will also be a Black Friday sale.
Which stores will be closed?
The furniture retailer announced in October that four of its stores in Tennessee would close. At the time, the company had more than 120 stores nationwide.
The American Signature store in Tennessee, which is scheduled to close, is offering 20% to 40% off some items, and some stores, including the Alpharetta, Georgia store, are also holding clearance sales.
“This is a strategic business decision focused on our long-term growth priorities,” American Signature Furniture Chief Operating Officer Pat Sanderson said in an October announcement. “While we are sad to say goodbye to Nashville, we are extremely grateful to our customers here who have welcomed us home over the years.”
According to American Signature’s website, the following stores are scheduled to close or have stock blowout sales:
Florida:
Georgia:
Illinois:
Indiana:
Kentucky:
Maryland:
Michigan:
Missouri:
new york:
North Carolina:
Ohio:
Pennsylvania:
Tennessee:
Virginia:
American Signature maintains a web page for customer questions at www.americansignaturefurniture.com/whats-next.
Saleen Martin is a reporter for USA TODAY’s NOW team. She is from Norfolk, Virginia (757). Email sdmartin@usatoday.com.
