At Home Emerges from Bankruptcy, Backed by New Ownership and $500M in Financing

DALLAS — At Home Group has completed its financial restructuring, successfully emerging from Chapter 11 bankruptcy. The company has eliminated nearly all of its $2 billion in debt and secured $500 million in new exit financing to fuel future growth. The home furnishings chain filed for bankruptcy in June, closing 31 locations as part of its restructuring process. Today, it operates 229 stores across 39 states.

“We’re entering a new chapter with renewed financial strength, flexibility, and momentum,” said Brad Weston, CEO of At Home. “Our focus is on becoming more relevant, inspiring, and deeply connected to our customers.”

Ownership of At Home has now shifted to a group of its lenders, including funds affiliated with Redwood Capital Management, Farallon Capital Management, and Anchorage Capital Advisors. Additionally, both Weston and Andrew Kilbourne, a representative of Redwood Capital Management, have joined At Home’s board of directors.

See: At Home Group Seeks Chapter 11 Bankruptcy Amid Financial Struggles

The company is also set to welcome two experienced retail leaders to its board soon: John Eck, the former CEO of Mattress Firm, and Karen Stuckey, a veteran of Wal-Mart and current board member at Gildan. Eck remarked, “At Home’s commitment to customer-centricity and delivering fresh, exciting product assortments positions the company for a bright future.”