At Home, a popular home goods retailer, has recently filed for Chapter 11 bankruptcy protection in an effort to bounce back from a dip in sales and the impact of inflation and tariffs. The company, headquartered in Coppell, Texas, has announced the closure of 26 of its stores as part of its restructuring plan.
Among the stores marked for closure are five outlets in the Los Angeles region, including locations in Tustin, Costa Mesa, Pasadena, Foothill Ranch, and Long Beach. Additionally, stores in San José, Sacramento, and other areas will also be shuttered.
To aid in its recovery, At Home has reached a restructuring agreement with its lenders to eliminate its nearly $2 billion debt and secure $200 million in capital for its restructuring efforts. CEO Brad Weston expressed optimism about the agreement, stating that it represents a positive step forward for the company’s future.
With 260 stores operating in 40 states, At Home sees approximately 70 million in-store customers and 53 million online visitors each year. The company employs around 7,170 individuals.
At Home’s decision to file for bankruptcy comes amid a trend of retailers closing stores this year. LL Flooring, formerly known as Lumber Liquidators, filed for Chapter 11 bankruptcy protection last August and announced the closure of a quarter of its nationwide locations.
This isn’t the first time At Home has faced financial challenges. The company explained in its filing that its former name, Garden Ridge Pottery, underwent a similar bankruptcy protection process in 2004 to address lease and contract obligations.
Originally founded in 1979 as Garden Ridge Pottery, the company later rebranded as Garden Ridge before becoming At Home in 2014. In 2016, At Home was listed on the New York Stock Exchange after going public. In 2021, global private equity firm Hellman & Friedman acquired the company and took it private.
At Home cited various factors contributing to its financial struggles, including inflation, slowing demand for home goods, and the shift towards online shopping. The imposition of higher import tariffs this year further exacerbated the company’s challenges.
“The newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution,” At Home stated in its bankruptcy filing.
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