ST. LOUIS – Furniture and appliance retailer American Freight has begun closing its stores nationwide, including four stores in the bi-state region.
Earlier this week, American Freight’s parent company, Franchise Group Inc. (FRG), filed for Chapter 11 bankruptcy following months of losses caused by FRG’s owner, B. Riley Financial.
In a statement, FRG said it had entered into a restructuring support agreement with a private equity firm and other lenders to keep the company and its subsidiaries afloat. Those subsidiaries—Pet Supplies Plus, The Vitamin Shoppe, and Buddy’s Home Furnishings—will remain open during the bankruptcy proceedings. American Freight was put on the chopping block.
FRG said American Freight struggled financially due to “sustained inflation and macroeconomic challenges facing the durable goods sector.”
There are approximately 370 American Freight locations in 40 states across the country. Store closing sales began on Tuesday, Nov. 5. It’s unclear when each store will close for good.
The four American Freight stores in the St. Louis area are located at:
2409 North Highway 67 in Florissant
9801 Page Avenue in Overland
639 Gravois Bluffs Boulevard A in Fenton
Fairview Heights Plaza, 55 Ludwig Drive in Fairview Heights, Illinois
American Freight was founded in Lima, Ohio, in 1994. The company acquired Sears Hometown and Outlet Stores in October 2019. FRG acquired American Freight in February 2020 for $450 million.