A home decor retailer with a prominent Peoria location is declaring bankruptcy and shutting down stores across the country.
At Home filled the Shoppes at Grand Prairie space left behind by Bergner’s in 2018, when the department store’s parent company was liquidated. The At Home opened in July 2022.
The company filed court documents as part of a restructuring agreement earlier this week, voluntarily starting Chapter 11 bankruptcy proceedings and entering into $600 million of debtor in possession financing.
As part of the restructuring agreement, the company expects ownership to transfer to its lenders.
According to news releases, the company expects the financing plan to provide enough liquidity to largely continue business as normal during the bankruptcy process, with the exception of some targeted closures of “underperforming” locations.
At Home operates 260 locations across 40 states. Restructuring plan information on the company’s website indicates the Peoria location is one of 26 of those locations that will be closing.
An Illinois location in Crestwood also is on the list of stores to be closed.
The company expects the planned stores to be closed by late September.
