By Connor Hart
At Home Group has entered a restructuring support agreement with lenders to eliminate substantially all of its nearly $2 billion in funded debt and provide it with about $200 million of capital to support operations.
Under the terms of the agreement, At Home and certain subsidiaries have voluntarily entered chapter 11 proceedings in the U.S., a move the company said will strengthen its financial foundation and position it for long-term success.
The company will continue to serve customers during the process, providing design and decorating solutions both in-store and online, it said.
Dallas-based At Home has agreed to certain milestones as part of the agreement, which it said will help to ensure an orderly emergence from chapter 11 as soon as practicable.
In connection with the filing, the company has entered an agreement for $600 million in debtor-in-possession financing, which includes a $200 million capital infusion from certain existing lenders, as well as $400 million of existing senior secured debt, it said.
At Home said that its lenders have consented to its use of cash collateral during these chapter 11 proceedings. The new financing, coupled with cash generated from the company's ongoing operations, will provide sufficient liquidity to support the business during the court-supervised process, it said.
Chief Executive Brad Weston said that the company has taken deliberate steps to improve business operations over the past several months. "While we have made significant progress advancing our initiatives to date, we are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs," he said.
The restructuring agreement will improve At Home's ability to compete in the marketplace in light of continued volatility, while also increasing the resilience of the business for the long-term, he added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 16, 2025 06:37 ET (10:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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