End of an Era: After 134 Years, Major Home Goods Chain Closing Every Location
For a retailer to make it for more than 130 years, saying goodbye to their loyal fanbase will no doubt be tough.
All 170 locations of Conn's Home Plus stores will cease to exist, and all of their inventory is being blown out at up to 60 to 80 percent off.
Over the summer, Conn's declared bankruptcy and planned to close only a fraction of their locations across America.
Something changed, though, and they have now decided to shut down each and every location and call it quits. Some locations will close faster than others, as they will close as soon as they run out of their highly discounted inventory.
According to Retaildive.com, it's ugly. The company owes $57 million to its top five creditors, and it owes $200 million to trade and unsecured creditors, with approximately $530 million in total debt.
That's a whole lot of money that they owe to their creditors, and the only way out was to declare bankruptcy and sell off all of their inventory to try to cover it.
Conn's at one time boasted more than $1 billion in yearly revenue and employed more than 4,000 people. There is no word on what will happen to those employees once their store location closes.
All of these retail closures have been deemed the retail apocalypse. Companies like Conn's that survived things like the Great Depression and world wars have now succumbed to inflation and post-pandemic business woes.
In total, Conn's will close 170 stores in 15 states. You are urged to find your nearest one to grab the deals while they last.
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