Conn’s, a home goods and furniture retailer, has filed for Chapter 11 bankruptcy protection and announced it will close 70 of its HomePlus stores in 13 states.
The company’s financial struggles came to light earlier this year. In the first quarter of 2024, Conn’s reported it’s total revenue was down nearly 8% over the first quarter of 2023. It also reported a net loss of nearly $77 billion for its fiscal year.
Here are the states where HomePlus stores will close:
Alabama: 1
Arizona: 7
Colorado: 6
Florida: 18
Georgia: 2
Louisiana: 6
Mississippi: 2
North Carolina: 4
Oklahoma: 4
South Carolina: 3
Tennessee: 4
Texas: 9
Virginia: 5
Possible litigation
At least two law firms have announced litigation plans on behalf of investors. -The Law Offices of Frank R. Cruz announces an investigation of Conn's, Inc., on behalf of investors concerning the Company’s possible violations of federal securities laws.
The Law Offices of Howard G. Smith issued a similar press release, said it would investigate the firm on behalf of investors, who saw Conn’s stock price plummet in recent weeks.
