At Home declares bankruptcy, closing some NJ stores
By: Daniel Munoz
NorthJersey.com
USA Today Network - New Jersey
..... The home goods retailer At Home, which has two stores in North Jersey announced June 16 [2025] that it was filing for bankruptcy, citing the uncertainty caused by President Downland Trump's tariffs on imports.
.....
Court documents said At home is closing 26 under-performing locations across the U.S., including the stores in Ledgewood, Princeton and Middletwon.
..... One retail analyst said At Home had "extensive debt on its balance sheet" that was "not sustainable."
..... In North Jersey, At Home has one store near Willowbrook Mall in Wayne, [NJ] with anther on Route 10 in the Ledgewood section of Roxbury Township, [NJ] which is slated to close.
..... there is also the store on Route 35 in Middletown in Monmouth County [NJ] that will close, another on Route 35 in Ocean Township and one on Route 88 in Brick. [NJ] The Princeton [NJ] one that is closing is just off Route 1.
..... The court documents said those stores, which are "under-performing," will close by September 2025. additional "under-performing stores may close later, the documents saids.
..... At Home, based in Dallas, said Monday [06/16/2025] that the agreement with its lenders "will eliminate substantially all" of its nearly $2 billion in debt and provide $200 million to pay for daily operations during the restructuring process.
..... The company joined a long list of brick-and-morter stores that have recently shut down or drastically curtailed operation, including Stop & Shop, Big Lots, buybuy Baby, Family Dollar, Rite Aid, CVS, Bed Bath & Beyond and Christmas Tree Shops/ Forever 21, which has 14 New Jersey stores, declared bankruptcy in April [2025] and announced plans to close all its stores.
.....
A Chapter 11 bankruptcy does not necessarily mean the company is deemed to go under. It's a process that some but not all companies survive
..... During a bankruptcy process, the company "usually proposes a plan of reorganization to keep its business alive and pay creditors over time," reads the U.S. courts website.
Cites Trump's tariffs
..... At one point, tariffs on Chinese imports were as high as 145% before being temporarily lowered to 30% after an agreement in May. [2025]
..... The chain relies heavily on foreign suppliers, especially in China, on which the bulk of Trump's tariffs have been levied, said bankruptcy documents filed in the Delaware District Court.
..... At Home's reliance on imports meant the company "was forced to consider whether to raise prices for customers or bear the extra costs itself," court documents said.
..... Tariffs were particularly concerning for At Home as the chain aimed to source its products for the Halloween and Christmas shopping seasons, winch is done "moths in advance," the company said in court documents.
..... "We are operating against the backdrop of an increasing dynamic and rapidly evolving trade environment as we navigate the impact of tariffs," At Home Chief Executive Officer Brad Weston said in a statement Monday. [06/16/2025]
'Extensive debt,' business model
..... At Home has "extensive debt on its balance sheet" that was "not sustainable," said Neil Saunders, a retail analyst and managing director of GlobaData.
.....
"Its elimination under chapter 11 will provide a more stable basis on which the company can operate," he said.
..... In addition, At Home's business model "is built around huge stores stocking lots of products in a warehouse-style fashion," Saunders continued.
..... "This is not sufficiently differentiated to compete against rivals like Ikea, Wayfair and others," he said. "There is way too little inspiration and not nearly enough excitement to draw people into the stores, particularity in areas where completions is high."