Savannah Furniture Store to Close Down Amid Company Bankruptcy
In a significant blow to the local retail landscape, Badcock Home Furniture, a prominent furniture store in Savannah, is set to close owing to the company’s bankruptcy.
Company’s History
Badcock Home Furniture has a rich history dating back to its establishment in Mulberry, Florida in 1904. The company was taken over by Conn’s HomePlus in December 2023. However, the economic woes of Conn’s HomePlus appear to have severely affected the operations of the once-thriving furniture chain.
Nationwide Closures
While many retail chains have been partially closing stores due to the challenging market conditions, Badcock Home Furniture has adopted a more drastic approach. The company has announced that it will be closing all of its stores. This major decision comes following Conn’s HomePlus’s filing for bankruptcy.
Badcock Home Furniture’s considerable presence in the retail sector, with over 300 stores in its portfolio, makes its complete closure a significant event. In addition to the Badcock stores, more than 70 other stores operating under the Conn’s brand are also set to shut down.
Liquidation Sales and Closure Dates
Badcock stores are expected to remain open until about October 31 for liquidation sales. This includes the two stores in Savannah as well as the stores in Pooler and Rincon.
Fiscal Challenges
During its fourth quarter earnings call in April, Conn’s revealed that total revenue had experienced a year-over-year decrease of 7.8%. Moreover, the company reported a substantial net loss of nearly $77 million for the year.
