At Home will close more than 30 stores as part of its financial restructuring after filing for bankruptcy on June 16.
The company also has a plan to help some locations survive.
The Street reported that At Home entered into a restructuring support agreement (RSA) to help eliminate its $2 billion in debt and provide a $200 million cash infusion to help support the business. More than 95% of At Home's lenders have signed the agreement, making its approval highly likely.
If the deal receives court approval, the company will transition its ownership of At Home to the lenders supporting the RSA, who will provide new capital, including funds from Redwood Capital Management, LLC, Farallon Capital Management, LLC and Anchorage Capital Advisors, LP, The Street reported.
Store closures are planned in a deal with Hilco Consumer to conduct going-out-of-business sales.
"These stores are offering some of the best deals shoppers will see all year — but only for a short time," a spokesperson for Hilco Consumer told The Street. "Customers who want the best selection on furniture, décor, and seasonal finds should shop early before the most popular items disappear."
The At Home closure rules are:
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Up to 30% off storewide
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Only in-store discounts are valid; coupons and other non-employee discounts will not be applied in addition to sale prices at closing stores
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All sales final on purchases made on or after Aug. 1
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Gift cards and returns are no longer being accepted
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Store fixtures and equipment are also for sale
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All stores will remain open during their normal operating hours until closure
Of the 31 locations shuttering, two are in Massachusetts, at 571 Boston Turnpike in Shrewsbury and 300 Providence Highway in Dedham.
Other At Home stores that are closing, according to The Sun , are:
California
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750 Newhall Dr., San Jose
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2505 El Camino Real, Tustin
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2200 Harbor Blvd., Costa Mesa
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3795 E Foothills Blvd, Pasadena
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1982 E 20th St., Chico
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26532 Towne Center Drive Suites A-B, Foothill Ranch
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8320 Delta Shores Circle S., Sacramento
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2900 N. Bellflower Blvd, Long Beach
Florida
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14585 Biscayne Blvd., North Miami
Illinois
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13180 S Cicero Ave., Crestwood
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5203 W. War Memorial Dr., Peoria
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101 Randall Road, Lake in the Hills
Indiana
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3175 W. 3rd St., Bloomington
Iowa
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3271 Market Place Dr., Council Bluffs
Massachusetts
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571 Boston Turnpike, Shrewsbury
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300 Providence Highway, Dedham
Michigan
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3100 Washtenaw, Ypsilanti
Minnesota
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2820 Hwy 63 S., Rochester
Montana
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905 S. 24th Street W., Billings
New Jersey
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1361 NJ-35, Middletown Township
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461 Route 10 East, Ledgewood
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2341 Route-66, Ocean Township
New York
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6135 Junction Blvd., Rego Park
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300 Baychester Ave., Bronx
Pennsylvania
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720 Clairton Blvd., Pittsburgh
Utah
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190 South 500 W., W. Bountiful
Virginia
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19460 Compass Creek Parkway, Leesburg
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8300 Sudley Rd., Manassas
Washington
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1001 E Sunset Drive, Bellingham
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2530 Rudkin Road, Yakim
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Read the original article on MassLive .
