A well-known national retailer has recently faced a significant setback. Conn’s HomePlus, a long-standing furniture and electronics store that has been in business for 134 years, has filed for bankruptcy. CNN has reported that almost half of the company’s 170 locations scattered across the United States will be shutting down.
As per CNN, there is a possibility of further job losses and closures. A spokesperson from Conn’s mentioned that the company is currently engaged in discussions with potential buyers to sell all or parts of the business and save jobs.
Why is Conn’s Filing for Bankruptcy?
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As per USA Today, Conn’s has attributed the need for bankruptcy and store closures to poor sales and a struggling economy. The Texas-based retailer reported a 7.8% decline in revenue compared to the previous year, with a net loss of almost $77 million dollars.
Which Texas Conn’s Locations Are Closing?
Numerous locations of Conn’s, a popular retail chain, will be shutting down across the United States. Texas and Florida are the two states that will be most affected, with nine and eighteen stores closing, respectively. Here is a list of the Texas locations that are currently scheduled to close.
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- Dallas: 4351 DFW Turnpike #300
- Houston: 11051 Northwest Freeway
- Webster: 1020 West NASA Road #266
- Austin: 5431 N. Interstate 35
- Fort Worth: 4200 S. Freeway Suite 1740
- Dallas: 11250 North Central Expy
- Lewisville: 2422 S. Stemmons Fwy
- Texarkana: 2315 Richmond Road
- Wichita Falls: 3915-A Kell Blvd
Conn’s has a total of 80 locations in Texas, which include Distribution Centers. The company is currently seeking a buyer for the remaining locations.