1 week Ago By Chris Bradford
BOSSES of a furniture chain are reportedly considering filing for bankruptcy as they grapple with the fall-out of Donald Trump’s sweeping tariffs. At Home chiefs have admitted the company, founded in 1979, is struggling to meet its debt.GettyA furniture retailer is preparing to file for bankruptcy, according to reports (stock)[/caption]And, the company imports most of its stock from China.
Bosses are bracing themselves for the consequences of Trump’s trade war with China.Washington and Beijing are embroiled in a tit-for-tat trade war. The US has slapped tariffs that now total 145% on Chinese imports.
Meanwhile, Beijing has retaliated with their own tariffs on American imports now totaling 125%.One option is to file for bankruptcy, sources told The Wall Street Journal.The future of At Home stores would be uncertain if bosses do proceed with filing for bankruptcy.
The retailer has more than 250 stores in 40 states. Shoppers turn to At Home outlets to buy furniture and decor. News of the potential bankruptcy filing comes after At Home bosses announced plans to close one of its stores in Madison, Wisconsin.
The outlet, which opened in the fall of 2019, is due to close on May 1.More to follow..
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