Popular Home Decor and Furnishings Store Considers Bankruptcy: Will One Near You Close?

Home goods stores have been struggling in recent years, with many locations shutting their doors.

The issues have also spilled over to regional stores such as Conn’s HomePlus, which has locations mainly in Southern states.

Here is what you need to know about how tough times at Conn’s HomePlus could hurt your chances to save money shopping with the retailer.

Conn’s HomePlus is a discount furniture retail chain with more than 170 stores across 15 states, mainly in the South. It currently has more than 4,000 employees and is based in The Woodlands, Texas, near Houston.

The company sells furniture, home appliances, electronics, and more through its store locations and online.

Conn’s HomePlus reportedly is considering filing for Chapter 11 bankruptcy, allowing it to restructure its business in the wake of struggling sales.

Conn’s also acquired home goods retailer W.S. Babcock last year and is facing issues with integrating the new business into its existing company.

Conn’s recently hired a financial firm to help it restructure its debt load and assist it through a possible bankruptcy filing, according to news reports.

The company hasn’t announced any store closings yet, but they could be coming if the retailer restructures under bankruptcy.

States that could be affected by closings include:

• Alabama
• Arizona
• Colorado
• Florida
• Georgia
• Louisiana
• Mississippi
• Nevada
• New Mexico
• North Carolina
• Oklahoma
• South Carolina
• Tennessee
• Texas
• Virginia

Conn’s HomeGoods isn’t the only retail furniture chain that has struggled in recent years.

Z Gallerie filed for Chapter 11 bankruptcy last year. So did Mitchell Gold + Bob Williams. Home goods retailer Tuesday Morning also closed its doors for good last year.

Conn’s HomePlus started as a plumbing and heating company at the end of the 1800s before moving into home appliances and then furniture.

The company has expanded during the past 15 years. It was operating in three states in 2008 and is now in 15 states with more than 170 locations.

Conn’s HomeGoods sells many items that you may be able to buy somewhere else, especially if you’re looking for a good deal.

You can search for other local chains or independent stores in your area to find something you need. A great Costco hack is to purchase furniture from that retailer. You can also buy furniture at Sam’s Club.

Remember that there are also some great online stores that can help you find good deals.

Conn’s HomePlus might be struggling, but there may be other shopping options that can help you eliminate money stress.

As always, shopping around and comparing prices is the best way to get a great price on home decor and furnishings.