Home decor retailer At Home seeks to eliminate debt in bankruptcy
FOX Business’ Gerri Willis speaks with Vaughan-Bassett CEO Wyatt Bassett about North Carolina’s strength for producing U.S.-made furniture amid tariff tensions.
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.
RITE AID FILES FOR BANKRUPTCY FOR SECOND TIME IN LESS THAN 2 YEARS
“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.
Read More: Home decor retailer At Home seeks to eliminate debt in bankruptcy