The retailer supported by private equity company Hellman & Friedman at Home Group Inc. will prepare in the coming weeks to submit an application for bankruptcy in Chapter 11, while according to a report, he has clipped his liquidity.
The company, which operates more than 260 businesses in 40 US states and territories, navigates in a deteriorating financial situation, which is tightened by the effects of US tariffs and the persistent uncertainty in terms of global trade policy.
At home, an interest payment due on May 15 and then completed a lookout contract with his lenders on May 23.
This agreement, which offers a temporary postponement by creditor classes, runs until June 30th.
“At home, actively works with our financial stakeholders and has concluded followings in relation to certain interest payments within the framework of the company's debt instruments,” said an e -mail to Bloomberg News.
“These agreements offer us flexibility because we continue to take measures to position it at home for almost and long -term success.”
Last month, Bloomberg News reported that the company weighed several restructuring options, and although bankruptcy registration was considered more likely, no final decision was made.
Representatives of Hellman & Friedman and PJT Partners Inc. who advise the retailer were not immediately available for comment.
Liquidity restrictions have been running at home for months. As part of his people familiar with the matter, around $ 17.3 million are available as part of his people familiar with the matter.
Bloomberg reported that his first runtime loan of $ 600 million is traded at just $ 38 on the dollar.
The retailer also tried to restructure his balance sheet. In April it discussed a proposal in discussions with some lenders that could possibly transfer the company's ownership to creditors. At that time, sources said that the company rated several options to fix the increasing financial pressure.
The tariffs imposed by President Donald Trump have played a central role in the disorder of the company's turnaround strategy.
Before the government's announcement on April 2, the government had started to change the production and supply of China to reduce exposure.
In the past few weeks, the company has accelerated its efforts to hire suppliers in other countries, including India.
Despite a temporary liquidity thrust in May 2023, the company collected $ 200 million through the sale of five-year-old high-ranking debt bonds and $ 442 million of unsecured bonds for payment in the chin of payment in the chin-Hat at home. to maintain.