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You are at:Home»Business»Home decor retailer files for Chapter 11 bankruptcy as part of restructuring
Business

Home decor retailer files for Chapter 11 bankruptcy as part of restructuring

Buddy DoyleBy Buddy DoyleJune 16, 2025No Comments3 Mins Read
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Home decor retailer files for Chapter 11 bankruptcy as part of restructuring
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At Home Group has filed for bankruptcy to help the home decor retailer undergo a restructuring.

The company announced Monday it started Chapter 11 bankruptcy proceedings so that it can implement a “restructuring support agreement” that it has signed with lenders “holding more than 95% of the Company’s debt.”

The restructuring support agreement will help the retailer wipe out “substantially all” of its nearly $2 billion in funded debt, At Home said. It will also infuse the retailer with $200 million of capital.

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“The steps we are taking today to fully de-lever our balance sheet will improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business,” CEO Brad Weston said.

At Home has reached a deal for $600 million in debtor-in-possession financing in total. The other $400 million will come from a “roll up” of existing senior secured debt, it said. 

The funds, subject to court approval, will help “provide sufficient liquidity to support the business during the court-supervised process,” according to At Home. 

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While going through Chapter 11 bankruptcy, At Home will sell products at physical stores and through its website, the company said. It plans to keep a “majority” of its home decor stores open during the process, according to a document on its restructuring website.

The retailer’s footprint currently spans 260 locations scattered across 40 states. 

Customer entering at home home goods store, Rego Center Mall, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)

Lenders including Redwood Capital Management, Farallon Capital Management and Anchorage Capital Advisors will become At Home’s new owners following the completion of the restructuring, according to At Home. 

“Upon emergence from the rearranged restructuring process, At Home will move forward with new owners and a meaningfully strengthened balance sheet,” Weston said. “Importantly, this process will also further equip us with opportunities to invest in our strategic initiatives and to continue fortifying our business for the long term.” 

WEIGHTWATCHERS FILES FOR BANKRUPTCY

The retailer’s restructuring support agreement and bankruptcy filing come after At Home took “deliberate steps” over the past several months to help boost sales growth, manage its inventory better and increase its efficiency in the face of a “dynamic and rapidly evolving trade environment” from tariffs, according to At Home’s CEO.

In its Chapter 11 petition, it estimated a range of $1 billion to $10 billion for its assets. Its estimated liabilities had the same range. 

The home decor retailer’s origins trace back to the late 1970s. It has been owned by funds affiliated with private equity firm Hellman & Friedman since 2021.

Read the full article here

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