American Freight Closes All Stores Amid Bankruptcy Chaos
- American Freight is closing all 328 stores and beginning nationwide store closing sales.
- The clearance sales offer discounts of up to 30% on various products like furniture and appliances.
- The closure reflects a larger trend of increasing store closures and retail bankruptcies in the U.S.
American Freight is shutting down all its locations and initiating clearance sales as it files for Chapter 11 bankruptcy. This decision follows the restructuring of its parent company, which aims to strengthen its capital structure while managing its other brands, including Pet Supplies Plus and The Vitamin Shoppe. Customers can expect significant discounts up to 30% on a wide range of products, including furniture and appliances. The sales are being overseen by Hilco Consumer-Retail, with promises of new inventory being sold quickly. The broader context shows a growing trend of store closures across the U.S., with more than 4,000 announcements made this year, leading to a significant rise in retail bankruptcies. This situation illustrates the ongoing struggles of retailers in a challenging economic climate.