DAYTON, Ohio (WDTN/WKRN) – American Freight, a chain of furniture stores operating in dozens of states, is planning to permanently shutter all 328 locations amid struggles with "sustained inflation and macroeconomic challenges," according to its parent company.
The locations are currently hosting store-closing sales managed by Hilco, a company which offers liquidation services.
The closing of all American Freight locations comes after its parent company, Franchise Group, Inc., filed for bankruptcy protection, according to documents filed in the U.S. Bankruptcy Court in Delaware.
"The debtors concluded that American Freight’s limited amount of profitable store locations could not support the rightsizing of its business through a plan of reorganization," said David Orlofsky, chief restructuring officer for Franchise Group.
In a press release issued earlier this week, Franchise Group explained that American Freight had struggled in the "large durable goods sector." Franchise Group further said that closing American Freight was be part of its strategy to prop up the company's other brands — specifically, Pet Supplies Plus, The Vitamin Shoppe and Buddy's Home Furnishings — for continued operation and longer-term success.
"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," said Andrew Laurence, president and CEO of Franchise Group.
American Freight has retail outlets in 41 state, including the following locations in Kentucky and Tennessee:
- Kentucky:
- 101 Clay Street in Bowling Green
- 1920 Watterson Trail in Louisville
- 5749 Preston Highway in Louisville
- 272 W New Circle Road in Lexington
- 7102 Turfway Road in Florence
- 51 Spiral Drive in Florence
- 3521 James Sanders Boulevard in Paducah
- 2512 Calumet Trace in Owensboro
- 1705 N Dixie Highway in Elizabethtown
- 223 KY Home Square Shopping Court in Bardstown
- 104 Brighton Park Boulevard in Frankfort
- Tennessee:
- 3041 Owen Drive in Antioch
- 642 Thompson Lane in Nashville
- 309 N Main Street in Goodlettsville
- 2231 B Madison Street in Clarksville
- 2607 Decherd Boulevard in Winchester
- 737 Lovell Road in Knoxville
- 9305 Kingston Pike, Suite 110, in Knoxville
- 6242 Perimeter Drive in Chattanooga
- 5450 Highway 153, Suite 100, in Hixson
- 7859 Highway 64 in Memphis
- 7060 Winchester Road in Memphis
- 2151 N Highland Avenue in Jackson
- 1189 N Eastman Road in Kingsport
A full list of locations can be found here.
Store closing sales began on Tuesday, Nov. 5, both online and in-store. Hilco has advertised up to 30% off furniture, appliances and other merchandise.
"Our goal is to deliver outstanding value to customers during this full chain closing sale," Ian Fredericks, CEO of Hilco Consumer-Retail, said in a press release. "Everything is on sale and must be sold, and we recommend shopping early for the best selection."