Southern U.S.-based retailer Badcock Home Furniture & More is going out of business after the 120-year-old chain announced the impending closure of every single one of its nearly 400 stores on Tuesday.
Badcock, which has more than 380 locations across Florida, Alabama, Mississippi, Tennessee, North Carolina, South Carolina, Georgia, and Virginia, is owned by Conn’s — which just fell into bankruptcy in July, the Daily Mail reported.
Conn’s, which also sells furniture, appliances, and other home goods, reportedly amassed nearly $2 billion in debt and suffered from immense overhead costs after acquiring Badcock in 2023, according to the outlet.
While the exact date of the store closures has yet to be announced, Badcock is currently advertising a “going out of business sale,” where merchandise is being discounted by up to 50 percent:
All Badcock stores are closing! Up to 50% merchandise while supplies last.www.badcock.com
Posted by Badcock Home Furniture &more on Monday, July 29, 2024
With every Badcock location closing and the parent company deciding to close many of its own Conn’s HomePlus stores, 451 of Conn’s 553 locations have been subjected to the “everything must go” sale.
While not all of the company’s locations are currently slated to be shuttered, the list of Conn’s store closures features locations all over the south — including a whopping 74 in Texas alone.
The company said it may be necessary to shut down “some, all, or a significant number of store locations’ in order to gain liquidity and maximize the value of the bankruptcy estate,” according to a July 23 court filing that the Daily Mail obtained.
About 100 Conn’s HomePlus stores remain, but the future for them is still unclear.
Around 3,800 full-time and 150 part-time employees work at Conn’s and Badcock stores, the U.K. outlet reported.
Other major retailers recently impacted by massive store closures include Dollar Tree, 99 Cents Only, and Rite Aid, Breitbart News reported.
