Chapter 11 bankruptcy. What is it?: Video explainer
Bankruptcy is the process for typically heavily-indebted business to reorganize their finances and structure. Learn more
- At Home is closing 26 underperforming stores nationwide, but the Orange Park location serving Jacksonville will remain open.
- Rising interest rates, inflation, and tariffs led At Home to file for Chapter 11 bankruptcy.
- The company will receive $200 million in new funding and transition to new ownership.
For Jacksonville shoppers who love strolling the home décor aisles for inspiration or everyday essentials, the number of stores offering home goods has dwindled in recent years following bankruptcies and closings.
Those include Bed Bath & Beyond, Tuesday Morning, Stein Mart, Sears and most recently, Joann.
On June 16, another big-box name joined the growing list of struggling retailers: At Home.
The Texas-based retailer that operates over 250 stores across 40 states, including one in the Jacksonville area, filed for bankruptcy and announced the pending closings of 26 “underperforming” locationsor about 10% of its total stores.
Will At Home close in Jacksonville?
In the Jacksonville area, At Home has one storeat 1919 Wells Road in Orange Park.
The store opened in September 2014 in the former Super Target spot across from Orange Park Mall.
But in some good news for area shoppers, that store is not on the list of 26 stores slated to close this year and will remain open.
What’s next for At Home?
As part of the reorganization, At Home’s ownership will transition to a group of investment firms based in New York and San Francisco. This change is aimed at strengthening the company for the future and helping ensure it can continue serving communities.
Bankruptcy, though not ideal, is a business strategy that “will improve our ability to compete in the marketplace in the face of continued volatility,” said CEO Brad Weston, a retail veteran who joined At Home last year after leading Party City through its own bankruptcy.
Why did ‘At Home’ declare bankruptcy?
Court documentsstate that rising interest rates, “persistent inflation” and a growing concern over unsustainable customs costs resulting from increased tariffs, led At Home to file for bankruptcy. As a result, At Home already closed six stores over the past year.
Weston pointed to what he called “an increasingly dynamic and rapidly evolving trade environment,” including tariffs on Chinese imports, a key source for At Home’s merchandise. While some tariffs were recently reduced from 145% to 30%, the damage had already been done. The slowdown in discretionary consumer spending added further pressure.
As a result, to stabilize its future, the company struck a deal with lenders to wipe out nearly $2 billion in debt and inject $200 million in new funding to keep the business afloat during bankruptcy. Upon exiting Chapter 11, At Home will be under new ownership with what Weston described as a “meaningfully strengthened balance sheet.”
What is Chapter 11 bankruptcy?
Chapter 11 allows companies to reorganize while continuing operations. It gives businesses the chance to renegotiate debt and emerge financially healthier, ideally avoiding full liquidation.
It lets them work out new deals with creditors, reorganize their finances, and hopefully come out stronger. One of the biggest perks is something called an “automatic stay,” which basically puts a temporary stop to things like lawsuits and foreclosures, giving the company some much-needed breathing room to figure things out.
For now, Jacksonville’s At Home location remains open, but the uncertain future of retail is. Particularly for home furnishing chains, it remains a sign of the times.
Which At Home stores are closing?
According to court documentsthe following stores are set to close:
- 6135 Junction Boulevard in Rego Park, New York
- 300 Baychester Ave. in Bronx, New York
- 750 Newhall Drive in San Jose, California
- 2505 The Royal Camino In Tustin, California
- 14585 Biscayne Boulevard in North Miami, Florida
- 2200 Harbor Boulevard in Costa Mesa, California
- 3795 E. Foothills Boulevard in Pasadena, California
- 1982 E. 20th St. in Chico, California
- 2820 Highway 63 South in Rochester, Minnesota
- 26532 Towne Center Drive Suites A-B in Foothill Ranch, California
- 1001 E. Sunset Drive in Bellingham, Washington
- 8320 Delta Shores Circle South in Sacramento, California
- 1361 NJ-35 in Middletown Township, New Jersey
- 2900 N. Bellflower Boulevard in Long Beach, California
- 720 Clairton Boulevard in Pittsburgh, Pennsylvania
- 2530 Rudkin Road in Yakima, Washington
- 571 Boston Turnpike in Shrewsbury, Massachusetts
- 5203 W. War Memorial Drive in Peoria, Illinois
- 8300 Sudley Road in Manassas, Virginia
- 461 Route 10 East in Ledgewood, New Jersey
- 301 Nassau Park Boulevard in Princeton, New Jersey
- 300 Providence Highway in Dedham, Massachusetts
- 905 S 24th St. West in Billings, Montana
- 19460 Compass Creek Parkway in Leesburg, Virginia
- 3201 N. Mayfair Road in Wauwatosa, Wisconsin
- 13180 S. Cicero Ave. in Crestwood, Illinois
When will At Home close its stores?
According tocourt documentsAt Home will close the 26 stores by Sept. 30, 2025.
