At Home Files for Bankruptcy: What It Means for the Billings Store

At Home, the home decor and furniture store with 266 locations nationwide including right here in Billings, is filing for Chapter 11 bankruptcy.

While the news of the bankruptcy filing sounds serious, it’s actually part of a plan to restructure the business and get back on solid ground.

What’s Happening with At Home?

On Monday, At Home announced that it is entering Chapter 11 bankruptcy protection. This move is part of a bigger effort to wipe out about $2 billion in debt and bring in $200 million in new capital to help the company stabilize.

The retailer says that it has been dealing with some tough challenges, including rising tariffs which have made it more expensive for them to get their products.

Why Is This Happening?

Owned by a private equity firm called Hellman & Friedman, At Home missed an interest payment on May 15, which led to a forbearance agreement with its lenders. Basically, that means they’re working out a deal to avoid defaulting on their debt. The plan involves handing over ownership of the company to the group of lenders holding most of the debt, over 95% of it.

READ MORE: What Could Replace the Old Costco in Billings? 

CEO Brad Weston said, “The steps we are taking today to fully de-lever our balance sheet will improve our ability to compete in the marketplace... and increase the resilience of our business for the long term.” In short, this restructuring is meant to help At Home survive in a tricky retail environment.

History of At Home

At Home started 46 years ago, in 1979, under the name Garden Ridge Pottery, opening its very first store in Texas. Since then, it’s grown to 266 stores across 40 states, selling a wide range of home goods such as rugs, furniture, bedding, and kitchenware, basically, everything you need to spruce up your living space.

What About the Billings Store?

The company hasn’t announced any specific store closures yet and say that it anticipates most of its stores will stay open. At Home fully plans to keep serving customers during this restructuring phase.

What’s Next for At Home?

The bankruptcy case is being handled in Delaware’s federal court system, and it’s a voluntary filing designed to help the company reorganize and come back stronger. While bankruptcy can sound scary, many retailers use this process to reset their finances without shutting down completely.

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So if you’re a fan of At Home's selection, you can still count on your Billings store to be open for the time being!