When parent companies declare bankruptcy, some or all of the brands they own wind up being affected. Well earlier this month, Franchise Group Inc. filed for bankruptcy and while for now, three of their brands, The Vitamin Shoppe, Pet Supplies Plus and Buddy's Home Furnishings, are expected to continue with business uninterrupted, another brand, American Freight, has announced they will be closing all their locations.
American Freight is a national furniture and appliance retailer founded in 1994. Now, because of its parent company's bankruptcy, the brand will shutter all 328 stores across the country, and they have already started offering "significant discounts" on their entire inventory. Hilco Consumer-Retail is handling the closing sales and their CEO stated, "Our goal is to deliver outstanding value to customers during this full chain closing sale. Everything is on sale and must be sold." That means living room sets, bedroom furniture, dining room tables and appliances can all be acquired for discounted prices.
New inventory is still arriving but is expected to be sold quickly. Current sales are at 30% off in stores and online and those discounts will likely increase as the stores wind down. No word yet on when each location's final day will be, but from this point on, all sales are final.