Conn's HomePlus closures: 9 stores closing in Texas
A Conns Inc. HomePlus store stands in Knoxville, Tennessee, U.S., on Thursday, March 26, 2015. Conns Inc. is scheduled to release earnings figures on March 31. Photographer: Luke Sharrett/Bloomberg via Getty Images
Home goods and furniture retailer Conn's Inc. filed for Chapter 11 bankruptcy protection on Tuesday and announced plans to close several locations, including 9 in Texas.
The chain is closing more than 70 of its 130 HomePlus stores across the country.
Conn's announced the following Texas locations that would be closing:
- 4351 DFW Turnpike, Suite 300, Dallas
- 11250 N. Central Expressway, Dallas
- 4200 S. Freeway, Suite 1740, Fort Worth
- 2422 S. Stemmons Freeway, Lewisville
- 11051 Northwest Freeway, Houston
- 5431 N. I-35, Austin
- 1020 W. Nasa Road, Suite 266, Webster
- 2315 Richmond Road, Texarkana
- 3915-A Kell Blvd., Wichita Falls
Conn's store will close in 13 states.
Florida will see the most closures with 18.
In the Chapter 11 filing for Conn’s Inc., it estimated a range of $1 billion to $10 billion for its assets. Estimated liabilities were the same.
Conn’s also reported having an estimated 25,000 to 50,000 creditors.
The filing indicated Conn’s Inc. and several other entities affiliated with the company that also filed for bankruptcy want their cases to be jointly administered. One of those was W.S. Babcock LLC, a furniture company it has owned since December.
In April, Conn’s said its total annual revenues dropped 7.8% year over year, totaling $1.2 billion. The company also posted a net loss of $76.89 million for the year.
FOX Business contributed to this report