At Home files for bankruptcy, a tale of the Retail Apocalypse and tariffs

The next tale of the Retail Apocalypse after Rite Aid filing for bankruptcy again comes from Erik of Retail Archaeology, whose most recent video is At Home: Another Private Equity Bankruptcy.

In this episode of Retail Archaeology we check out At Home, a huge home goods and decor store that is about to file for bankruptcy.

Listening to Erik's history of the company made me think of three factors I've encountered before with troubled stores. First, Garden Ridge, At Home's previous name, filing for bankruptcy in 2004, reminded me of what I wrote most recently about Rite Aid, "Most of the chains succumbing during the Retail Apocalypse were already in trouble..." At Home is one of them. Next, "line go up" in 2020 reflected what happened to Joann and Big Lots!. "Both thrived during the pandemic because people were at home, then suffered once people returned to work." Third, I've often seen private equity as a cause of debt leading to failure, most recently in the case of Weight Watchers. Erik wasted no time pointing that out in the video title.

On the other hand, he was not as convinced about tariffs as a cause other than the final nail in the coffin, which he said as a voice over while showing Halloween decorations. I'm surprised he didn't mention Spirit Halloween as a competitor along with Walmart, Target, and Wayfair.

I've seen Erik criticize a chain's business model before, but never this relentlessly. Also, this is the first time I remember hearing him credit HGTV for a company's success, however fleeting, although I think he's onto something.

Erik thought that At Home might file for bankruptcy the day he uploaded his video. He was only off by one day, as WFMY News 2 in Greensboro, North Carolina uploaded Popular home goods store 'At Home' announces bankruptcy amid tariff strain on June 16, 2025.

At Home's CEO partly blames tariffs for the company's decision to close stores.

At Home may be the first retailer to declare bankruptcy because of tariffs, but it almost certainly won't be the last. I wrote Tariffs from the U.S.-China trade war are likely to accelerate the Retail Apocalypse in May 2019. That didn't happen then, but it looks like it's happening now. Sometimes I wish I wasn't right.

I'm finishing with a local angle on this story from CBS News Detroit, At Home retail chain files for bankruptcy.

Home decor and furniture retailer, At Home, is filing for bankruptcy. The retail chain has more than 200 locations in the United States.

Two of those locations are not just in Michigan and Metro Detroit, but in Oakland County. I think the one in Troy is in an old Sears location. That's not a good omen, but no Michigan locations are on the store closing list.

Erik mentioned Kohl's in his video. They're next. Stay tuned.