Copyright Mechanicsburg Patriot News
At Home has survived the death grip of bankruptcy and lived to tell the tale. Unlike Bed Bath and Beyond, which liquidated in 2023, or The Container Store, which is trudging through its own bankruptcy proceedings, At Home has managed to stay afloat. The chain officially made it out of Chapter 11 bankruptcy last week, with the opportunity to keep 229 of its original 260 locations open for business — roughly 88% of their surviving stores. The outcome is a huge win for the décor chain in what can be a ruthless retail landscape. Back in June, At Home filed for bankruptcy after being buried in nearly $2 million of debt. The original plan was to close 26 stores, though that number eventually reached 31 as proceedings continued. Then a multitude of lenders — Redwood Capital Management, Farallon Capital Management, and Anchorage Capital Advisors — got involved in a $500 million exit financial deal. As a result, these firms now own At Home and are adamant that the chain is much needed by consumers seeking affordable home décor. “We are officially starting our next phase with renewed financial strength, flexibility and momentum,” CEO Brad Weston said to The Sun. “We’re taking decisive actions to become more relevant, more inspiring and more connected to our customers.” At Home is closing 31 locations total, including six non-operational stores in Saint Paul, Minnesota; Redding, California; Salem, Oregon; Everett and Lacey, Washington; and Clackamas, Oregon. The full closure list spans across the nation, from Arizona to New York, with California, Florida, Illinois, Indiana and Texas having the most closings. These stores ran liquidation sales throughout the bankruptcy process. But nonetheless, the brand made it through with flying colors. According to the company’s website, At Home “will continue to assess our current store leases with a focus on increasing profitability moving forward.” That means more closures could be on the way if the numbers aren’t what they’re expected to look like.
