Gigantic Retailer, American Institution Conn’s Is Closing Doors of 559 Stores Across America
Conn’s Inc. has filed for Chapter 11 bankruptcy as of July 23, 2024, reflecting the difficult economic conditions consumers face, struggling to afford furniture amid rising costs for basic needs. The bankruptcy will result in the closure of 559 stores and the loss of approximately 3,800 jobs across 15 states, including Texas, Florida, and Virginia. This trend is part of a broader crisis in the retail sector, with other retailers like Big Lots and Family Dollar also announcing significant store closures. The situation is attributed to the current economic policies under the Biden administration, criticized for exacerbating inflation and financial strain on consumers. The article posits that the administration’s approach could lead to further economic decline and increased poverty, urging a return to policies that stimulate corporate growth and consumer spending.
It is hard to think about buying furniture when consumers are having a hard time putting food on the table.
Conn’s Inc. is now bearing the brunt of that reality. They filed for Chapter 11 bankruptcy on July 23, 2024.
559 stores will be closed according to the court filings. 310 of these locations are dealer-owned.
With them, they take 3,800 jobs across fifteen states.
This includes Arizona, Alabama, Texas, Colorado, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee and Virginia.
You can chalk it up as yet another triumph for the Biden economy.
You can also add it to the pile of closings occurring across retail, due in no small part to “Bidenomics.” They join Big Lots, which just announced the shuttering of 149 stores.
And with them goes 600 hundred Family Dollar stores, 300 CVS stores, 113 Foot Locker’s — and plenty more, with more likely to come.
The average American can’t afford to buy a new home nevertheless furnish one. And those lucky enough to have bought before “Bidenomics” took hold of the nation are fighting to not lose it at the hands of soaring inflation and debt.
Now, with Vice President Kamala Harris being crowned by leftist elites to save the United States as per the Democratic party, we need only look at the Biden-Harris legacy thus far to gain insight into what is to come.
More of the same, undoubtedly. And much worse, for that matter.
Harris, being a strong advocate for the Green New Deal and Medicare-for-all, will undoubtedly place further pressure on families to come up with more money to pay in taxes to support both.
Weakened consumers will kill businesses. Then the Harris government will kill the consumer. Spin only lasts so long.
It is an effective way of ushering poverty and socialism through the door.
The argument by some that these closings are good because smaller companies may be able to get more customers hardly stands up. As smaller stores are suffering under the weight of failed “Bidenomics” as well. They have less wiggle room to provide affordable goods so consumers simply won’t spend. When forced, they will rob Peter to pay Paul, so to speak.
A total of 3,800 new jobs lost also means further strain on unemployment assistance, impacting the health and welfare of the entire nation. Multiply that out by all of the stores shedding skin at this point.
The tiniest of silver linings: These are more difficult optics for the Biden/Harris administration going into an uphill presidential bid.
We need to get this nation back to work again. This includes supporting corporate growth and incentivizing consumerism.
“Made in America” needs to become mainstream again, just as Trump had been doing during his last term as president.
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