Major Discount Retailer to Close All Louisiana Stores IMMEDIATELY!

Since COVID-19, many big businesses have had to close or file for bankruptcy because of money problems. Now it looks like another major retail store will be closing its doors for good, including their 5 Louisiana locations. We've got everything you need to know...

Several major businesses have recently been forced to close or file for bankruptcy due to financial struggles. Companies like Bed Bath & Beyond, Party City, and David's Bridal have all filed for bankruptcy as they faced challenges like rising costs, changes in customer spending, and competition from online retailers.

Many of these businesses were hit hard by the effects of COVID-19 and couldn't recover from the drop in sales or the increasing pressures of inflation. While some stores have completely closed, others are trying to reorganize to stay afloat.

Sears was once a major player in retail, selling everything from clothes to home goods and even appliances. However, as online shopping grew, Sears struggled to keep up with the competition, and eventually, most of its stores shut down.

American Freight came in to fill that gap, focusing on selling discounted furniture and appliances, which were popular products Sears once offered. By focusing on affordable, basic furniture and home items, American Freight attracted Sears’ former customers who were looking for deals on big-ticket items without paying full retail prices. But, even though it replaced Sears in some locations, American Freight now faces its challenges as well...

American Freight has announced that it will be closing all of its locations throughout the Country. This decision comes as part of a Chapter 11 bankruptcy filing by Franchise Group Inc., the company that owns American Freight. Based in Delaware, Ohio, Franchise Group announced this week and confirmed that 328 American Freight stores in 41 states would soon shut down. Louisiana, with five American Freight locations, is one of the states affected by this decision.

LOUISIANA LOCATIONS:

• Baton Rouge
• Lafayette
• Denham Springs
• Shreveport
• Metairie

According to USA Today, Franchise Group said that American Freight is closing due to "sustained inflation and macroeconomic challenges facing the large durable goods sector." This means that high costs and economic pressures in the furniture and home goods market made it tough for American Freight to stay profitable.

American Freight will hold going-out-of-business sales at all its locations. Hilco Consumer-Retail, a company that manages liquidation sales, is overseeing these closures. Ian Fredericks, CEO of Hilco Consumer-Retail, said, “Everything is on sale and must be sold.” This could be a good chance for Louisiana shoppers to snag deals on furniture and home items before stores close for good.

If you’re in Louisiana and looking for a bargain, you might want to check out the sales before American Freight locations close permanently.