DISCOUNT sales are underway at hundreds of home goods stores across the US after a chain with more than 100 years of history filed for bankruptcy.
Conns Home Plus outlets days are numbered, and shoppers can grab a bargain while stocks last.
Executives filed for bankruptcy in July and attributed the company’s economic downturn to a number of factors.
Sales took a hit during the pandemic but the company had assets and liabilities that ranged from $1 billion to $10 billion.
And, Conn’s bosses owed more than $50 million to five huge creditors combined, per Retail Dive.
Conn’s stores are in the process of closing down, and liquidation sales are being held at stores in Nevada, per The Las Vegas Review-Journal.
The prices of items have been cut by up to 80% as bosses rush to clear the last remaining stock.
But shoppers have been warned that all sales are final.
The chain’s three stores in Nevada will close by October 31.
Meanwhile, stores in El Paso, Texas, are holding their own liquidation sales.
The prices of expensive home goods items such as computers and televisions have been cut by between 50 and 70%, as reported by The El Paso Times.
The store closures are expected to take place by the end of the month and it’s estimated around 4,000 workers could be impacted.
Conn’s bosses bought Badcock in December 2023, and all Badcock locations will close.
At the time of the takeover, chiefs wanted to “catalyze” economic growth for both companies.
Badcock had been part of the American retail scene since 1904.
Throughout its history, the company’s portfolio of stores ballooned to 380 outlets across eight states.
Conn’s and Badcock are not the only chains that have experienced or have experienced store closures.
The U.S. Sun reported how Macy’s chiefs are in the process of trimming their store portfolios.
A total of 150 outlets will go to the wall and the closures are taking place over three years.
Bosses say the decision was taken in a bid to drive economic growth.
A Macy’s store located in a Massachusetts shopping mall will be closing – but shoppers will be able to grab Thanksgiving and Christmas gifts.
The sweeping Macy’s shutdowns come just years after execs in 2020 unveiled plans to close 125 outlets.
Popular chains such as Big Lots and Walgreens are also closing outlets.
Tim Wentworth, the CEO of Walgreens Boots Alliance, revealed 1,200 stores will be closing their doors over three years.
By 2027, it’s estimated that one in seven Walgreens outlets will have slammed shut.
And 7-Eleven chiefs recently announced that 400 underperforming stores will be closing down.
The closures come as bosses admitted they had experienced a “tough consumer spending environment.”
