Conn’s was recently told they were not in compliance with Nasdaq listing rules.
AUSTIN, Texas — Beloved Texas-based Conn’s will be closing multiple stores across the state.
Bloomberg recently reported that Conn’s HomePlus may close as many as 100 stores as it looks at filing for bankruptcy.
Texas is home to 80 Conn’s locations, with the company confirming it will close at least nine stores in the Lone Star State, including one in East Austin.
An April 2024 finance report showed Conn’s has 553 stores in 15 states, but more than 300 of those were dealer-owned.
The Bloomberg report claims Conn’s would be filing for Chapter 11 bankruptcy “within a matter of weeks” as it searches for financing for the process.
In 2023, Conn’s ended with a year-over-year net loss of nearly $77 million. It also recently received a delinquency notice from the Nasdaq for not filing its first quarter report by the date required by the U.S. Securities and Exchange Commission.
Conn’s ended Tuesday trading at 51 cents a share.
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