Another Bankruptcy Closing All 328 Stores, 6 in New York

Add another national chain to the list of companies filing for bankruptcy and closing all 328 stores, including 6 in New York State.

It has been a brutal few years for restaurants and businesses across the country. National chains have been forced to close their doors and another is following the downward trend.

JoAnn Fabrics, Bed Bath & Beyond, Rite Aid, LL Flooring, Big Lots, Walgreens, and even Remington Arms in Ilion have all closed up after using the B word.

Credit - Think Stock/Canva

American Freight Going Out of Business

This time it's American Freight, the discount furniture and appliance store. The parent company, Franchise Group filed for bankruptcy protection and plans to close all locations.

"The debtors concluded that American Freight’s limited amount of profitable store locations could not support the rightsizing of its business through a plan of reorganization,” said David Orlofsky, chief restructuring officer for Franchise Group.

Going out of Business Sales

Store closings sales are underway at all 328 locations and online. You can save 30% over the already discounted prices.

"Our goal is to deliver outstanding value to customers during this full chain closing sale," said Ian Fredericks, CEO of Hilco Consumer-Retail. "Everything is on sale and must be sold, and we recommend shopping early for the best selection."

If you have someone on your holiday shopping list who needs furniture and appliances you may want to pick up their gifts early, and at a discounted price.