A LEADING home furnishings chain is facing bankruptcy.
The retailer may transfer control of its operations to creditors.
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At Home, the big-box retail home goods store, is reportedly on its way toward bankruptcy.
The Texas-based retailer is considering filing for Chapter 11 bankruptcy, according to The Wall Street Journal.
At Home has struggled to generate enough revenue to keep up with its growing debt.
Several potential solutions are being considered, including bankruptcy.
The company’s estimated debt stands at approximately $2 billion.
Reports suggest that President Trump’s tariffs have added uncertainty to At Home’s ability to stay afloat, as many of its products are imported.
With tariffs on Chinese goods reaching as high as 145%, the company’s efforts to recover have become more complicated.
Even before these tariffs, At Home was already facing challenges with imports from China and had started relocating some operations out of the country.
At Home is owned by the equity firm Hellman & Friedman, which acquired the company in 2021 for $2.8 billion.
The chain operates 262 locations across 40 states, offering 45,000 home decor products ranging from furniture to wall art.
Formerly known as Garden Ridge, At Home began opening stores in 2014, filling large vacant spaces from department stores like Dillard’s or Belk.
Each store is about 120,000 square feet, similar to the size of a typical Target.
Originally based in Schertz, Texas, Garden Ridge Pottery was founded by Eric White in the late 1970s.
After a second store opened in Houston in 1986 and the company reached $50 million in annual sales, White sold it in 1988.
The company filed for bankruptcy in 2004 after new investors took over.
In 2011, Garden Ridge was sold to AEA Investors and later revamped under CEO Lee Bird, who moved operations to Plano, Texas.
The company adjusted its pricing and upgraded systems to better compete with Walmart and Home Depot.
Brad Weston, the former CEO of Party City and Petco, replaced Bird last year.
Despite attempts to turn things around, At Home has continued to face difficulties, and it now appears the company may be headed toward bankruptcy.
The retailer has not commented on any plans to file for Chapter 11 protection.