Due to continuing financial difficulties and increasing debt, two furniture companies have gone bankrupt and are now shutting down all of their locations.
Companies like Conn’s and Badcock are starting liquidation sales because they’re shuttering all of their outlets across the country.
The 120-year-old furniture company Badcock declared Chapter 11 bankruptcy at the end of July.
Customers were confused and furious since their orders couldn’t be completed due to the sudden bankruptcy.
Tuesday I signed the paperwork, and Wednesday I filed for bankruptcy. Please inform me that someone was ignorant! One client complained that the bankruptcy process was lengthy.
This is what the Bonifay, Florida Badcock location had to say:
After 120 years in business, Badcock Home Furnishings and More announced on Tuesday afternoon that they will be closing all of their businesses.
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Every single one of them, yes.
We are astounded and utterly blown away as you are.
It is as if a member of our family has passed away.
Over the past three days, we have prayed more than ever before and wept many tears.
In 2022, Conn’s Furniture bought Badcock.
“What we didn’t know, was that Conn’s was already a sinking ship before acquiring Badcock,” the post from the Bonifay outlets noted.
Badcock has always seemed to us like a small lifeboat drifting aimlessly on the vast ocean.
They seized Badcock as Conn’s doomed to a sinking fate, and the two vessels went down together in the lifeboat.
“Indeed, every single Conn’s store is going out of business,” says Conn’s website.
All of the Conn’s and Badcock locations have been having liquidation sales.
According to TheStreet, they are still shipping products but no longer provide financing options.
Even though most locations will close earlier than that, both companies will shut down entirely by the end of October.