GlobalData
2 min read
US home decor chain At Home Group is close filing for Chapter 11 bankruptcy protection as financial pressures persist.
The retailer is exploring strategies including increasing its liquidity, according to a Bloomberg report.
This development follows the appointment of Brad Weston as CEO in May 2024. Backed by private equity company Hellman & Friedman, At Home operated 266 stores across 40 US states and territories at the time of his appointment.
But the company has encountered financial challenges in recent months, exacerbated by tariffs and trade tensions.
At Home failed to make an interest payment that was due on 15 May 2025, which led to a temporary forbearance agreement with its lenders on 23 May.
This halts creditor actions until 30 June 2025.
An emailed statement from a company spokesperson was quoted by Bloomberg: "At Home is actively collaborating with our financial stakeholders and has 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."
A report from Bloomberg in April stated that At Home was considering restructuring strategies. Although a bankruptcy filing appeared likely, no definitive decision had been reached at that time.
Representatives from Hellman & Friedman and At Home's advisor PJT Partners were not available for comments.
The retailer has $17.3m accessible under its asset-based lending facility.
It has been seeking to decrease its reliance on Chinese suppliers since late in 2024 due to tariff concerns.
In recent weeks, it has intensified efforts to engage with suppliers from alternative markets, including India.
"At Home readies for US Chapter 11 protection amid liquidity struggles" was originally created and published by Retail Insight Network, a GlobalData owned brand.
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