Alexandria, LA (7/12/2024) – Conn’s Home Plus has announced the closure of multiple stores across Louisiana, including locations in Alexandria, Shreveport, Monroe, Lafayette, Baton Rouge (Siegan Lane), Houma, Harvey, and Slidell.
The Texas-based retail chain, known for its furniture and appliance offerings, is reportedly considering filing for Chapter 11 bankruptcy in the coming weeks, according to Bloomberg.
Conn’s has been grappling with financial challenges, which led to the delay in filing its quarterly financial reports as it sought to refinance its debt.
Signs outside the Alexandria store indicate an imminent closure, expected by late August or September. This move is part of a broader effort to manage declining sales and mounting debt.
The company’s struggles were exacerbated by the acquisition of Florida-based W.S. Badcock, a furniture store chain, last December. The integration of Badcock into Conn’s operations has proven difficult, contributing to the financial strain. Conn’s currently operates over 550 stores across 15 states and maintains a distribution center in Port Allen, Louisiana.
Conn’s financial difficulties have been attributed to inflation and a decline in sales, which have significantly impacted its profitability. The company has a long history, dating back to its founding in 1890, and has grown to be a major player in the retail industry. However, the recent downturn has put the future of many of its stores and employees in jeopardy
