💥New Chapter 11 Bankruptcy - Conn's Inc. ($CONN)💥
Fire sale! Big box retailer plans to liquidate all its retail stores.
On July 23, 2024, Conn’s Inc. ($CONN) and ten affiliates (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the Southern District of Texas — in what will be the first major case heard by … 🥁Judge Alfredo Perez🥁! Welcome to the party, pal! Time to re-establish Texas’ debtor-friendly bona fides!
Anyways, remember Conn’s? The big box retailer turned payday loan lender? We literally covered them two weeks ago:
But here’s a quick refresher on the business from CEO Norman Miller’s first day declaration: “…the [debtors] offers home furnishings and mattresses, appliances, consumer electronics and related product offerings. In addition to the Retail Segment, the Company differentiates itself in the marketplace through its in-house and third-party financing products.”