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5d ago

At Home Cleared to Exit Bankruptcy After Court Approves Plan, Lenders Take Control

Court approval clears the retailer to shed nearly $2 billion in debt, tapping roughly $500 million in new financing.

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At Home will exit Chapter 11 bankruptcy after obtaining approval of its restructuring plan.

Overview

  • A Delaware bankruptcy judge confirmed At Home’s reorganization on Oct. 1, setting up an exit from Chapter 11 in the coming weeks.
  • Ownership will shift to a lender group including Redwood Capital Management, Farallon Capital Management and Anchorage Capital Advisors.
  • The company says it will eliminate substantially all of nearly $2 billion in funded debt and secure access to about $500 million via an asset-based loan.
  • Most stores will remain open with more than 220–230 locations continuing to operate, while reports cite 31 operational closures plus additional non-operational sites, with some lists reaching 40 total closures.
  • Heavy reliance on overseas sourcing leaves At Home exposed to newly announced U.S. tariffs on furniture and home goods, which the company and analysts flag as an ongoing cost risk.