Hooters hit by inflation, forced to close 40 locations across US
Hooters abruptly shut down around 40 locations across the US due to poor financial performance.
Benzinga – News
Home goods retailer Conn’s HomePlus is joining this year’s trend of filing for Chapter 11 bankruptcy protection and closing locations.
On Tuesday the 134-year-old company announced plans to close at least 73 locations across 13 states. Florida will lose the most, with Conn’s HomePlus shuttering 18 of the state’s 21 locations.
The Texas-based chain Conn’s operates over 170 stores in 15 states across the southern United States and employs over 4,000 people, the company’s website says. In December 2023, the company acquired W.S. Badcock, another home goods retailer that operates in the southeastern U.S. under the name “Badcock Home Furniture & More,” giving the company 550 stores across 15 states between the two brands.
Badcock also announced that it’s closing 35 stores, including two of its 20 locations in Florida.
Store liquidation sales for both brands will have starting discounts of 30-50% across in-store and online merchandise, including name-brand furniture, home electronics and appliances, according to a company press release. All items must be sold, all sales are final. Store furnishings, fixtures, and equipment are also available for sale, the release said.
Conn’s HomePlus said in its fourth-quarter earnings call in April that total revenue was down 7.8% year over year and the company posted a net loss of nearly $77 million for the year. Shares for the company have dropped more than 90% for the year and the company received a delisting notice from Nasdaq a few weeks ago, CNN reported.
This comes during a year when Walgreens closed locations, Walmart closed all 51 of its health centers, restaurant chains like Red Lobster, Tijuana Flats, TGI Fridays and Hooters announced closings and retail outlets such as Big Lots, rue21. Express, Best Buy, Macy’s, Dollar Tree and Family Dollar all announced bankruptcies or location reductions.
Which Conn’s HomePlus stores are closing in Florida?
Here are the Conn’s stores that will be closing, according to the company.
Altamonte Springs: 130 E. Altamonte Drive Suite 1700Boynton Beach: 9903 S. Military TrailBradenton: 4495 14th Street WDaytona Beach: 2500 W International Speedway Blvd., Suite 700Hialeah: 3890 West 18th AveHollywood: 500 N. University DriveJacksonville: 9278 Arlington ExpresswayKissimmee: 105 W Vine StreetMelbourne: 1433 S Babcock StreetOcala: 2800 SW 24th Ave. Suite 200Orange City: 810 Saxon BlvdOrlando: 1631 Florida Mall AveOrlando: 2628 East Colonial DriveOrlando: 7407 West Colonial DrivePinellas Park: 7300 US Highway 19 NPort Richey: 9642 US Highway 19 NorthTampa: 3908 W Hillsborough AveWest Palm Beach: 4340 OkeechobeeWhich Conn’s HomePlus stores will still be open?
So far, these locations are not included in the list of closing stores.
Lakeland: 8401 FL 33, Suite 180Pembroke Pines: 500 N. University DrPensacola: 7171 N. Davis, Suite 300Which Badcock Home Furniture & More locations are closing in Florida?
According to the retailer’s website, these Florida locations will be closing.
Orlando: 7873 S Orange Blossom TrSt. Petersburg: 2000 34th ST NWhen will the Conn’s HomePlus and Badcock Home Furniture & More locations shut their doors?
According to the filing, Conn’s HomePlus is seeking court approval to complete going-out-of-business sales by Oct. 31 and reject store leases.
Gabe Hauari, USA TODAY contributed to this article.
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Publish date : 2024-07-26 08:08:50
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