Conn’s HomePlus, a Texas-based retailer, has recently declared bankruptcy and announced the closure of 71 out of its 170 stores. The company filed for Chapter 11 protection on Tuesday due to declining sales caused by a decrease in consumer spending.
In Arizona alone, seven Conn’s HomePlus stores will be shutting down. These include locations in Yuma, Tucson, Marana and four in Phoenix.
Similarly facing financial struggles is Big Lots as they plan to close several store locations this year. According to their filing with the U.S Securities and Exchange Commission last month, the company will shut down around 35-40 stores while opening three new ones.
The decision to close these Big Lots stores is attributed to customers’ financial challenges. However,the exact date for these closures has not been disclosed by the company.
Out of their total number of 34 locations in Arizona,twelve are set for closure including Flagstaff,Tucson,and nine within Phoenix area.
