January 1, Badcock Home Furniture Shutters All Stores Under Economic Strain

Another American business icon is falling victim to the economic struggles that have plagued the nation in recent years. Badcock Home Furniture & More, a stalwart of the Southern home retail scene for the past 120 years, announced an impending closure of all of its nearly 400 stores on Tuesday.

Badcock, with an expansive reach across states like Florida, Alabama, Mississippi, Tennessee, North Carolina, South Carolina, Georgia, and Virginia, is under the ownership of Conn’s. This retail conglomerate filed for bankruptcy in July after accruing an almost insurmountable debt of $2 billion. This financial turmoil came shortly after Conn’s absorbed Badcock in 2023.

The parent company’s takeover of Badcock was followed by a steep increase in overhead costs, which has contributed significantly to its current financial struggles. The exact timeline of the store closures is still unknown, but a “going out of business sale” is already underway, with merchandise marked down by up to 50 percent.

With the impending closure of every Badcock store and a significant number of Conn’s HomePlus locations, the economic impact is monumental. Currently, 451 out of Conn’s 553 locations are on the chopping block under the “everything must go” sale.

The company’s eroding financial stability has forced it to consider drastic measures. A court filing from July 23 revealed that Conn’s may need to “shut down some, all, or a significant number” of its locations to regain liquidity and maximize the value of the bankruptcy estate.

Although about 100 Conn’s HomePlus stores are still in operation, their future remains uncertain. Approximately 3,800 full-time and 150 part-time employees at Conn’s and Badcock stores now face a future marred with uncertainty.

This trend of closures is not limited to Conn’s and Badcock. Other major retailers like Dollar Tree, 99 Cents Only, and Rite Aid are also succumbing to the challenging economic climate, shedding a light on the overarching issues plaguing American businesses today. It’s a reminder of the need for policies that foster a healthy business environment, where iconic companies can survive and thrive.

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