Conn's files for Chapter 11 bankruptcy, closing 73 stores

seekingalpha07-24

Conn’s (NASDAQ:CONN) has filed for bankruptcy protection in its home state of Texas and will close 73 stores as the beleaguered furniture store struggles with slumping sales and challenges integrating...

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Badcock.  Despite shifting consumer spending due to high inflation and limited discretionary income, Conn’s  acquired Badcock in an all-stock transaction late last year, making the furnishings company a wholly-owned subsidiary. Badcock operated nearly 380 stores in eight southern states and more than 310 independent dealer owned stores.  Of the 73 stores being closed, the majority will be in Florida with 18 stores shutting their doors. Other states that will experience store closures includes Texas, Colorado, North Carolina, and Virginia.  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