At Home Bankruptcy
Just saw At Home (Hellman & Friedman PortCo) filed for BK. Anyone know what happened / what caused this? Thanks.
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Rough guess - bought during peak covid when nesting was a real trend, now home decor spending has cooled with a weaker consumer. Company was a big box retailer with thin margins and large footprint / overhead. It's a category that's been struggling - just look at Bed Bath Beyond.
They were probably treading water and then tariffs were the nail in the coffin.
Main reasons are as listed above but generally not a great idea to buy a business and expect to grow it when you have a ton of demand pulled forward with no real recurring aspect to it – if i buy a couch now I likely wont need to buy another one for a few years.
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