At Home Group Inc. is preparing to file for Chapter 11 bankruptcy: Report

Gerri Willis of Fox Business talks with Wyatt Bassett, CEO of Vaughnbassett, about North Carolina’s strengths in producing US-made furniture amid tariff tensions.

Home Group Inc. is reportedly preparing to submit a home decoration retailer based in Texas Chapter 11 Bankruptcy Protect in the coming weeks that will function to enhance liquidity.

The retailer – owned by private equity firm Hellman & Friedman – has faced a cash shortage in recent months and has been exacerbated by the effects of the company. US Tariffs And the World Trade War, Bloomberg news It has been reported.

On May 15th, he missed an interest payment from his home and signed a tolerance agreement with the lender on May 23rd. The agreement temporarily suspends payments — will run until June 30, those familiar with the matter told Bloomberg.

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The retailer owned by private equity firm Hellman & Friedman has faced a cash shortage in recent months, exacerbated by the effects of the US tariffs and the world trade war, Bloomberg News reported. (Business Wire/Fox News)

“At home, we are actively working with our financial stakeholders and have entered into generous agreements regarding payment of certain interest under the company’s debt certificate,” a spokesman for Home Group Inc. told Bloomberg. “These contracts continue to take steps to provide us with flexibility and to be located at home to be successful in the long term.”

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Company with over 250 stores 40 statesaccording to some people with knowledge of the issue, currently $17.3 million is available in asset-based facilities. According to Bloomberg, it traded at 26.5 cents on May 8th, down from 41.25 cents on January 7th.

Home Group Inc., a home decor retailer based in Texas, is reportedly preparing to file for Chapter 11 bankruptcy in the coming weeks, as it works to enhance liquidity. (Business Wire/Fox News)

At home, looking for new overseas suppliers when the company is about to shift From China Amid concerns about tariffs, Bloomberg reported.

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Earlier this month, Home Group Inc. announced that it had appointed Brad Weston on June 3rd. Recently, Weston served as CEO of Party City Holdings Inc.