We Now Know What Conn's Locations In East Texas Will Shut Down After The Company Filed For Bankruptcy.

Many stores are grappling with supply chain disruptions, which have led to delays in receiving inventory and increased costs. Additionally, changes in consumer behavior, such as the shift towards online shopping and rising living costs have forced consumers to cut back on discretionary spending, including furniture purchases with many opting for budget-friendly options.

These factors and more have forced brick-and-mortar stores to either adapt quickly or risk losing business and shutting down as we've seen several choose the latter over the last few years.

Texas-based furniture store Conn’s plans to close about 100 locations and liquidate the inventory as part of a bankruptcy filing.

Conn's has been struggling in recent years, facing three consecutive fiscal years of losses according to a report from the Austin American-Statesman. As a result, the company's shares have plummeted by over 80% in 2023 and are now trading at less than $1.

In 2023, the Woodlands, Texas-based retailer acquired Badcock, a Florida-based company, from Franchise Group in a transaction that added approximately 380 stores in the Southeastern region, expanding their existing portfolio but the store faced challenges in integrating Badcock Home Furniture & More so a potential Chapter 11 bankruptcy filing may occur within a matter of weeks, however, discussions are ongoing, and plans could change.

There are 85 Conn’s operating in Texas and more than 150 locations in the U.S.

A Chapter 11 bankruptcy, also known as reorganization bankruptcy, allows a company to continue operating while it develops a plan to repay its creditors. The goal of Chapter 11 bankruptcy is to allow the company to restructure its debt and emerge from bankruptcy as a viable business.

We now know that the following East Texas locations are going to be closing:

• Tyler - 4931 S Broadway Ave
• Longview - 3510 McCann Rd
• Lufkin - 3047 S John Redditt Dr
• Texarkana - 2315 Richmond Rd Ste 1E

These locations will be hosting a going out of business sale with everything marked as "must go" items 30 to 50% off in store and online.