American Freight Closing 328 Locations Amid Bankruptcy

American Freight, a discount furniture and appliance retailer, is closing all 328 of its U.S. locations as part of a Chapter 11 bankruptcy by its parent company, Franchise Group Inc. The closures are attributed to sustained inflation and macroeconomic challenges in the large durable goods sector. Franchise Group plans to focus on strengthening its other brands, including Pet Supplies Plus, The Vitamin Shoppe, and Buddy's Home Furnishings. Hilco Consumer-Retail is managing the liquidation sales, offering up to 30% discounts on furniture and appliances both in-store and online. The decision to close American Freight is part of Franchise Group's strategy to de-lever its balance sheet and support its remaining businesses. An official final closure date for American Freight stores has not been announced.