Bad management, poor foresight or the impossibility of adapting the way of business to the new situations that are occurring in the economy of different countries lead many companies, some with a long history in their sector, to close after filing for bankruptcy by not being able to assume increasingly large debts.
In fact, this is what happened to many businesses as a result of the coronavirus health crisis in 2020, which generated, without a doubt, a change in the way of consumption around the world. In fact, after the pandemic, many companies They had to adapt to new sales systems, increasingly digitized.
Closing of 70 stores in 13 states
Thus, many companies were unable to adapt to this and, therefore, although they have tried to endure with their in-person sales systems, years later they have declared bankruptcy and have closed, as is the case of the legendary American company dedicated to selling furniture and home products, Conn’s Inc.
It is a 130-year-old furniture, mattress and appliance retailer that has been forced to close dozens of stores across the United States. Specifically, they are a total of 70 stores located in 13 different states.
With this news, the directors of Conn’s filed for bankruptcy protection in the United States Bankruptcy Court, filing for Chapter 11, announcing plans to close their stores, although before all that They have announced liquidation of products, with discounts of up to 80%as can be seen on its own website. However, the sale is only in person.
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