Thomas Lester //Retail Editor//November 4, 2024

DELAWARE, Ohio — Franchise Group, owner of Top 100 retailer American Freight and Buddy’s Home Furnishings, filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware on Nov. 3.

As part of its restructuring, FRG announced that it will wind down operations for American Freight with store closing sales beginning Nov. 5. In determining to wind down American Freight, FRG noted that the brand has struggled due to sustained inflation and macroeconomic challenges facing the large durable goods sector.

Franchise Group acquired American Freight in 2019 and combined the stores included in that deal with rebranded Sears Outlet stores it acquired earlier. In 2021, it bought Top 100 retailer Badcock Home Furniture &more before selling it to Top 100 retailer Conn's HomePlus in late 2023.

Those two brands would ultimately file for Chapter 11 protection in July and are nearing the end of going out of business sales.

Source：Funiture Today

Website：https://www.furnituretoday.com/financial/american-freight-to-close-as-parent-company-files-chapter-11/