Another National Chain Faces Bankruptcy Thanks to New Tariffs

Another major retailer may be on the brink of bankruptcy thanks to the latest tariffs on imported merchandise.

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

JoAnn Fabrics, Bed Bath & Beyond, Rite Aid, LL Flooring, Big Lots, Forever 21, Walgreens, and even Remington Arms in Ilion have all closed up after using the B word.

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At Home Struggling

The latest chain that may be headed towards bankruptcy is At Home, according to the Wall Street Journal.

The Texas-based home furnishings superstore operates 266 stores across 40 states, including 7 in New York. But it's been struggling lately.

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Tariffs to Blame

A big part of the problem? Tariffs.

Most of At Home products come from overseas—especially China—and those goods just got slapped with a whopping 145% tariff. That's in addition to the 25% on items from Canada and Mexico.

The company is trying to avoid a financial collapse by working with an investment bank and an advisory firm to figure out a plan, according to Bloomberg Law. But if they can’t get their debt under control, a bankruptcy filing might be the next step.