A major national home goods retailer is preparing to file for Chapter 11 bankruptcy in the coming weeks, according to a report from Bloomberg.
Texas-based At Home has 200 stores nationwide, including Alabama locations in Hoover, Huntsville and Trussville. According to the report, At Home did not make its May 15 interest payment and entered into forbearance with lenders on May 23 that extends through June 30.
In a statement to Bloomberg, At Home said it was “actively collaborating with our financial stakeholders and have put forbearance agreements in place with respect to certain interest payments under the company’s debt instruments.
“These agreements provide us flexibility as we continue to take steps to position At Home for near and long-term success,” the statement continued.
No information has been provided by the company on the status of stores or plans for a potential reorganization.
If At Home files for bankruptcy, it follows a wave of financial struggles by national restaurants and retailers. In recent months, drug store chain Rite Aid, restaurant chain On The Border, craft and fabric store JOANN and party chain Party City have either filed for bankruptcy or shutdown citing financial woes.
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