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American Freight

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business1 year ago

Bankrupt Furniture Chain Shuts Down Nationwide, Launches Liquidation Sales

American Freight, a national furniture store chain, is closing all 15 of its Michigan locations as part of a broader shutdown of all 328 stores following its parent company, Franchise Group Inc., filing for bankruptcy. The closures are attributed to inflation and economic challenges in the durable goods sector. Liquidation sales are underway, offering discounts on various furniture and appliances. Despite the closures, some financing and delivery services will still be available to customers.

via WDIV ClickOnDetroit|
#american-freight#bankruptcy#business
business1 year ago

Bankrupt Furniture Chain Shuts Down All U.S. Locations

American Freight, a furniture store chain with over 300 locations nationwide, is closing all its stores, including 30 in Texas and one in northwest Austin, due to financial difficulties linked to inflation and macroeconomic challenges. The closures follow the bankruptcy filing of its parent company, Franchise Group Inc. Despite the shutdown, other brands under Franchise Group, like The Vitamin Shoppe, will remain open. Customers can avail discounts of up to 30% during the closing sales.

via KVUE.com|
#american-freight#bankruptcy#business
business1 year ago

American Freight Furniture Announces Nationwide Store Closures and Liquidation Sales

American Freight is closing all 328 of its U.S. furniture stores, including 33 in Florida, as part of Chapter 11 bankruptcy proceedings by its parent company, Franchise Group. The closures are attributed to "sustained inflation and macroeconomic challenges." Closing sales with discounts up to 30% are being offered. Franchise Group's other businesses, such as The Vitamin Shoppe and Pet Supplies Plus, will remain operational.

via Miami Herald|
#american-freight#bankruptcy#business
business1 year ago

Major Furniture Retailer Closes All U.S. Stores, Launches Liquidation Sale

American Freight, a retailer of furniture, mattresses, and appliances, is closing all 370 U.S. locations as its parent company, Franchise Group, enters Chapter 11 bankruptcy. The closures are part of a strategy to strengthen other brands under Franchise Group, such as Pet Supplies Plus and The Vitamin Shoppe, amid economic challenges and inflation affecting the durable goods sector.

via SILive.com|
#american-freight#bankruptcy#business
business1 year ago

National Furniture Retailer Shuts Down All U.S. Stores Amid Liquidation

American Freight, a major furniture and appliance retailer, is closing all 328 U.S. locations, including six in New York, due to its parent company Franchise Group Inc.'s Chapter 11 bankruptcy. The closures are attributed to inflation and macroeconomic challenges in the durable goods sector. Franchise Group's other businesses, such as Pet Supplies Plus and The Vitamin Shoppe, remain unaffected. Closing sales began on November 5, offering significant discounts as part of the liquidation process.

via Democrat & Chronicle|
#american-freight#bankruptcy#business
business1 year ago

American Freight Shuts Down Nationwide Amid Bankruptcy

American Freight is closing all 328 of its stores across 41 states as part of Chapter 11 bankruptcy proceedings by its parent company, Franchise Group Inc., which cited sustained inflation and macroeconomic challenges. The going-out-of-business sales will be managed by Hilco Consumer-Retail. Despite the closures, Franchise Group's other holdings, like The Vitamin Shoppe, will remain operational. Prior to the bankruptcy filing, Franchise Group paid $5.75 million in retention bonuses to insiders and $2.16 million to other employees to ensure continuity through the process.

via USA TODAY|
#american-freight#bankruptcy#business
business1 year ago

Major Furniture Chain Closes Nationwide, Triggers Massive Sales

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.

via AL.com|
#american-freight#bankruptcy#business
business1 year ago

American Freight Shutters All Stores Amid Bankruptcy, Major Sales Begin

American Freight, a Columbus, Ohio-based furniture and appliance retailer, is closing all its 370 stores, including three in the St. Louis area, due to sustained inflation and macroeconomic challenges. The company has 13 stores in Missouri and 11 in Illinois. The furniture retail sector has struggled since the COVID-19 pandemic, with many top retailers experiencing declining sales.

via KSDK.com|
#american-freight#business#economic-challenges