A national furniture chain that operates 15 stores in Michigan is shutting down as its parent company faces bankruptcy.
American Freight, owned by Franchise Group Inc., has over 300 locations across the country, including several in Michigan, such as two in Flint and others in West Michigan and Metro Detroit.
As the company prepares to close all of its stores, customers can expect big discounts on home furnishings, mattresses, and major appliances, with savings of up to 30%.
However, no specific date has been set yet for the closure of the 15 Michigan locations.
Franchise Group Inc., the parent company, also owns other retail chains like The Vitamin Shoppe, Buddy’s Home Furnishings, and Pet Supplies Plus.
While The Vitamin Shoppe has over 700 stores, including 17 in Michigan, and Pet Supplies Plus has hundreds of locations across the U.S., there are no Buddy’s Home Furnishings stores in Michigan.
After trying to sell American Freight stores, Franchise Group is now focused on liquidating its remaining assets. The company owes nearly $2 billion in debt, including over $1 million in unsecured claims to creditors.
It’s unclear what will happen to The Vitamin Shoppe, Pet Supplies Plus, and Buddy’s Home Furnishings, as their future is still uncertain.
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