4 furniture stores in region closing amid national retailer’s bankruptcy

A national furniture, appliance and electronics retailer is permanently closing its stores in Bradenton, Pinellas Park, Port Richey and Tampa. News of the closures comes as Conn’s HomePlus filed for Chapter 11 bankruptcy July 23 in Texas.

Headquartered in The Woodlands, Texas, Conn’s is shuttering 18 stores in Florida and a total of 70 stores across the country, according to its website. Liquidation sales of 30%-50% off are ongoing at the locations that are closing.

Many of the company's other locations will remain open. It has 553 stores in 15 states and 4,000 employees after acquiring Polk County-based home furnishings company W.S. Badcock in December, according to an April statement from Conn’s.

In its bankruptcy filing, Conn’s says it has an estimated $1 billion to $10 billion in assets as well as liabilities and 25,000 to 50,000 creditors. Its largest debt is to Samsung for $20.91 million.

Conn’s posted a net income loss of $76.89 million for the last year, the company reported in April. Sales in Conn’s HomePlus retail stores have fallen due to declines in discretionary spending, according to the report.