American Freight
American Freight, founded in 1994, is officially shutting down all 328 of its stores. Hilco Consumer-Retail is managing the liquidation process, and has urged customers to shop early for the best selection as inventory is expected to sell quickly.
In this gallery, we dive deeper into the company’s closing, among other struggling sectors.
Furniture and appliances
The company recently filed for Chapter 11 bankruptcy. Store closing sales offer discounts up to 30% on all inventory, including furniture and appliances.
Managing the sales
Hilco Consumer-Retail is managing the sales, emphasizing quick inventory turnover. Franchise Group’s restructuring aims to strengthen its capital structure for sustainable growth.
Pet Supplies Plus
Despite the closures, other Franchise Group brands such as Pet Supplies Plus and The Vitamin Shoppe will continue operations. U.S. store closures in 2023 have outpaced openings, a trend not seen in recent years.
Everything is on sale and must be sold
Hilco Consumer-Retail CEO Ian Fredericks said, “Our goal is to deliver outstanding value to customers during this full chain closing sale. Everything is on sale and must be sold.”
Family Dollar
Family Dollar, Walgreens, and Big Lots announced significant store closures in 2024, with LL Flooring shutting down entirely. Major retailers have closed 6,189 stores so far, surpassing last year’s total.
The pandemic initially boosted retail
The pandemic initially boosted retail with stimulus payments, but high interest rates and inflation have since strained consumers. Many chains that struggled pre-pandemic are now faltering again.
Closing locations
Over 80 companies selling discretionary goods have filed for bankruptcy in 2024, up nearly 30% from last year. The restaurant industry has also faced challenges, with many chains filing for bankruptcy and closing locations.