Major Furniture Chain Closes Nationwide, Triggers Massive Sales
TL;DR Summary
Franchise Group, the operator of American Freight, has filed for Chapter 11 bankruptcy and announced the closure of all 370 American Freight Appliances & Furniture stores, including 10 in Alabama. This decision is part of a strategy to focus on its other businesses, Pet Supplies Plus, The Vitamin Shoppe, and Buddy’s Home Furnishings, which will remain open. The closures are attributed to inflation and macroeconomic challenges affecting the durable goods sector.
Topics:business#american-freight#bankruptcy#business#economic-challenges#franchise-group#retail-closures
- National furniture chain shutting all stores, including 10 Alabama locations AL.com
- American Freight Store Closing Sales Begin At Locations Nationwide Offering Shoppers Significant Savings PR Newswire
- Five area furniture stores slated to close after owner seeks bankruptcy protection Dayton Daily News
- B. Riley-Backed Franchise Group Paid Millions in Bonuses Ahead of Collapse Bloomberg
- Furniture and appliance chain to close all locations, including Fairview Heights Belleville News-Democrat
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
1 min
vs 2 min read
Condensed
76%
299 → 71 words
Want the full story? Read the original article
Read on AL.com