At Home Group has filed for bankruptcy to help the home decor retailer undergo a restructuring.

The company announced Monday it started <a href="https://www.foxbusiness.com/category/bankruptcy" target="_blank" rel="noopener">Chapter 11 bankruptcy proceedings</a> so that it can implement a "restructuring support agreement" that it has signed with lenders "holding more than 95% of the Company’s debt."

The restructuring support agreement will help <a href="https://www.foxbusiness.com/category/retail" target="_blank" rel="noopener">the retailer</a> wipe out "substantially all" of its nearly $2 billion in funded debt, At Home said. It will also infuse the retailer with $200 million of capital.

"The steps we are taking today to fully de-lever our balance sheet will improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business," CEO Brad Weston said.

Home decor retailer At Home Group has entered Chapter 11 bankruptcy to pave the way for a "restructuring support agreement" it has reached with lenders.{ai:summary}<p>At Home Group has filed for Chapter 11 bankruptcy to restructure its operations and manage nearly $2 billion in debt. The company has reached a support agreement with lenders holding over 95% of its debt and will receive $200 million in capital to aid in its recovery.</p><p>CEO Brad Weston stated that these measures aim to enhance the company's competitiveness and resilience amid ongoing market volatility. #economy</p>

Home decor retailer files for Chapter 11 bankruptcy as part of restructuring

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