At Home is closing 26 underperforming stores across the country, after filing for Chapter 11 bankruptcy. Bloomington’s At Home is not one of them. At Home is a home goods store that offers home decoration and furniture.
The company filed for bankruptcy June 16 due to “broader economic and retail-specific market pressures,” according to the court document. Specific issues include higher interest rates, inflation, and tariffs.
The store has also faced other challenges, such as decreased foot traffic, increased competition with similar and off-price retailers, and disparity between their inventory and customer demand.
In the past year, At Home had already closed six stores.
“Ultimately, the Debtors’ management team and advisors determined that it is appropriate to commence closings of 26 underperforming brick-and-mortar stores, with the potential to close additional underperforming stores in the future,” according to the court document.
The 26 At Home stores are set to close by Sept. 30. Two of the 26 are in Illinois.
A group of hedge funds and investment firms in New York City and San Francisco will gain ownership of At Home, according to USA Today.