Conn’s to close Arizona stores, mulls ‘full-chain liquidation’ amid bankruptcy

Another long-time national retailer is closing stores across the country, including in Phoenix, after filing for Chapter 11 bankruptcy protection.

Texas-based Conn’s Inc. (Nasdaq: CONN) filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas on July 23 after struggling with rising costs and declining sales, the company wrote in a court filing. The company has now outlined plans for a potential “full-chain liquidation” that could impact hundreds of retail locations.

The company’s website now features a landing page outlining Conn’s HomePlus store closings across the country, with seven Arizona locations set to shutter. Those include one in Yuma and two in Tucson, along with Valley stores at 2820 W. Chandler Blvd. in Chandler; 5000 S Arizona Mills Cir. in Tempe; 4531 E. Thomas Rd. in Phoenix; and 2820 W. Dunlap Ave., also in Phoenix.

The financial woes at Conn’s adds to the duress faced by many big box retailers over the past several years. California-based discount chain 99 Cents Only Stores LLC is one recent example, having announced plans this spring to shut down operations and close 12 Valley stores. Also this spring, an Express store at Chandler Fashion Center was earmarked for closure after Ohio-based clothing retailer Express Inc. filed for bankruptcy. Bed Bath & Beyond Inc. announced plans to close all 360 of its stores, including nine in the Phoenix area, after filing for bankruptcy in April 2023.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.