National furniture chain shutting all stores, including 10 Alabama locations
A national furniture chain is the latest retailer to file for bankruptcy and announce it was closing all 370 of its stores.
Franchise Group, also known as FRG, operates American Freight, along with Pet Supplies Plus, The Vitamin Shoppe and Buddy’s Home Furnishings. The company announced earlier this week it was filing for Chapter 11 bankruptcy and would shut down its American Freight Appliances & Furniture locations. Pet Supplies Plus, The Vitamin Shoppe and Buddy’s Home Furnishings will remain open.
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“(The) announcement to de-lever our balance sheet is a pivotal step forward in enabling our market-leading businesses Pet Supplies Plus, The Vitamin Shoppe, and Buddy’s Home Furnishings to realize their full potential,” Andrew Laurence, FRG’s President and CEO, said in a statement. “Each of these businesses has a demonstrated value proposition and provides great products and services to customers, which they will continue to do seamlessly during this process.”
The closures of FRG come as it has “struggled due to sustained inflation and macroeconomic challenges facing the large durable goods sector.”
American Freight has 10 locations in Alabama: three in Birmingham, Morrow Road, Veterans Memorial Drive and Palisades Blvd; Dothan at Ross Clark Circle; Helena at Highway 52; Huntsville at North Memorial Parkway; Mobile at Moffett Road; Montgomery at North Eastern Blvd.; Tuscaloosa at McFarland Blvd and Prattville at East Main Street.
Closures started Nov. 5 both in stores and online.