From the article:
Conn’s HomePlus, a 134-year-old furniture and electronics retailer with locations primarily in the southern United States, has filed for bankruptcy and is closing nearly half of its 170 stores.
The Texas-based company, which filed for Chapter 11 bankruptcy protection on Tuesday, has been struggling with slumping sales amid a broader slowdown in discretionary spending among consumers. Conn’s has assets and liabilities worth at least $1 billion each, according to the filing. . . .
Major furniture retailers continue to struggle after a pandemic boom, particularly as Americans struggle with persistent inflation. Discretionary big-ticket items, such as furniture, have quickly dropped off the shopping list for more budget-conscious consumers.
That has resulted in furniture chains Z Gallerie and Mitchell Gold + Bob Williams filing for bankruptcy within the past year and Wayfair drastically reducing its workforce.
https://www.cnn.com/2024/07/24/investing/conns-bankruptcy-store-closures/index.html
