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Furniture store American Freight is set to close all of its 328 locations in dozens of states as a part of Chapter 11 bankruptcy proceedings by its parent company, Franchise Group Inc.
The company has decided to close all American Freight stores nationwide. There are 365 stores in 40 states, so it’s a large brand. Closing sales at all stores and online will begin on Nov. 5.
Furniture retailer American Freight will close its 328 stores as parent company, Franchise Group Inc., goes bankrupt. 'Everything on sale': American Freight closing all Michigan stores. What we know
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Original American Freight logo and tagline. The first American Freight store was founded by Steve Belford in Lima, Ohio in 1994 as American Freight Furniture & Mattress. [21] By 2014, the company was operating 95 stores in 18 states, and October that year was acquired by an affiliate of private equity firm The Jordan Company of New York. [22]
According to documents filed in the U.S. Bankruptcy Court in Delaware, American Freight will close all locations following a move by parent company, Franchise Group, to file bankruptcy protection.