Grace Snelling
3 min read
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At Home, the big-box home decor and furnishings brand, is the most recent in a series of home goods stores, including Big Lots and True Value, to file for bankruptcy in recent months. Today, the company announced that it is seeking Chapter 11 protection after tariff-related costs, inflation, and reduced foot traffic have taken a bite out of sales.
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The company, which is owned by Hellman & Friedman and operates 260 stores across the U.S., has entered an agreement with its lenders that’s intended to help eliminate the company’s $2 billion in debt while providing $200 million in new funding to keep the brand afloat during the restructuring process.
CEO Brad Weston said in a press release that At Home is operating against a “rapidly evolving trade environment as we navigate the impact of tariffs” and that the changes are intended to help the company compete in a more volatile marketplace.
At Home’s financial woes come on the back of closures for several similar brands. In 2024, the discount retailer Big Lots also filed for Chapter 11 bankruptcy and planned to close all of its 800 locations before it was ultimately purchased and kept afloat by a new owner (though at a much smaller scale). And this May, the beloved arts-and-crafts retailer Joann’s closed its doors permanently after a drawn-out bankruptcy process. Now, At Home will be the latest home goods retailer to attempt to keep its doors open as it navigates the bankruptcy process.
Currently, At Home employs over 7,000 workers across 40 states. According to a bankruptcy court filing, the brand has struggled over the past several years due to “reduced foot traffic in stores, heightened competition from comparable and off-price retailers offering substantial discounts, and a disparity between inventory and customer demand.” Over the last year, At Home has already closed six stores, but it reports that several remaining stores are still operating at “suboptimal performance levels.”
To turn things around, At Home reported that it will begin by transitioning ownership of the company to its lenders, who are shouldering more than 95% of its debt. The restructuring is also expected to result in several store closures. Per the filing: “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.”
