MJP –
Following the announcement of its bankruptcy filing, a colossal furniture store is shutting down its stores in South Carolina. The company, which has been in existence for 130 years, is taking this drastic step.
Conn’s Inc. has recently submitted a petition for Chapter 11 bankruptcy.
Regrettably, the company faced financial difficulties, causing the permanent closure of operations across the country.
Five stores in South Carolina are shutting down out of a total of 550 stores spread across 15 states.
Conn’s Furniture recently made public its decision to shut down a total of 71 stores across the country.
Nevertheless, no one could have foreseen that the company would declare bankruptcy, requesting authorization from the courts for liquidation sales and the ability to end its store rental contracts.
SEE MORE –
Closing Doors: Furniture Retailer Faces Challenges, Closes Florida Locations
By the conclusion of 2023, Conn’s disclosed a loss of close to $77 million, marking a 30% rise compared to the prior year.
Additionally, the company was sent a tardy notification from Nasdaq due to its failure to submit the quarter 1 report punctually.
Do you know which Conn’s stores in South Carolina will be shutting down?
Here is a compilation of the furniture shops shutting down in South Carolina.
- 605 Haywood, Greenville
- 106 Peachwood Center Dr, Spartanburg
- 548 John Ross Parkway, Rock Hill, South Carolina
- 4960 Centre Pointe Dr, North Charleston
- 2530 David McLeod Blvd, Florence
Does the increasing number of bankruptcies, closures of stores, and job cuts in the United States worry you?
