WFCN –
After filing for Chapter 11 Bankruptcy last week and announcing the immediate closure of at least eight other stores in Texas, a popular retailer is planning to leave Austin, Texas, and this is just the beginning of Texas business closures.
Physical stores are struggling to keep up with the increasing costs of running their businesses, which is particularly problematic for those having a lot of inventory on hand.
While some suppliers have been doing well in the current economic climate by lowering pricing, other shops are faced with the tough decision of either boosting costs or risking even fewer customers. All things considered, sales have been dismal for Conn’s HomePlus for a long time.
Retail Behemoth in Texas Files for Bankruptcy and Shuts Down Several Stores Across the State of Conn
Source – The Guardian
If this Fast Company piece is to be believed, nine Conn’s restaurants in Texas will be shuttering their doors immediately, including the one at 5431 North Interstate 35 in Austin. The rest of us will just have to wait for word on any farther closures. Overall, 71 shops are now closing their doors.
While the current Conn’s headquarters are in The Woodlands, the family business actually began in Beaumont back in the 1800s.
The details of this bankruptcy process are still sketchy because the company might be bought out by another retailer or its assets could be sold off.
While this is happening, you can still visit the Killeen and Waco locations of The Conn’s as well as the two in Austin.