TAMPA, Fla. — A furniture store with 33 locations across Florida and 7 in the Tampa Bay area will be shutting down all its stores after its parent company filed for bankruptcy.
Franchise Group Inc. is closing its 328 American Freight stores nationwide and having store closing sales. In a Facebook post, the furniture chain said all retail locations are closing, and they are discounting items up to 30% off.
The parent company recently filed for bankruptcy at a court in Delaware. American Freight reportedly blamed the closures on financial issues that stemmed from "sustained inflation and macroeconomic challenges," according to a news release.
"Our goal is to deliver outstanding value to customers during this full chain closing sale," said Ian Fredericks, CEO of Hilco Consumer-Retail, in a statement. "Everything is on sale and must be sold, and we recommend shopping early for the best selection."
American Freight was founded in 1994 and is known for providing a wide selection of affordable furniture, mattresses and home appliances.
Franchise Group Inc. also owns brands such as Pet Supplies Plus, The Vitamin Shoppe and Buddy's Home Furnishings, which they will be focusing on as they enter a restructuring agreement.
Customers will be able to shop the sale in-store and online. The locations in the Tampa Bay area are in Tampa, St. Petersburg, Lakeland, Clearwater, Palmetto and Sarasota.
