Store Closing Sales Commence Across Conn's HomePlus and Badcock Home Furniture & More Locations

Rhea-AI Summary

Store closing sales have begun at Conn's HomePlus and Badcock Home Furniture & More locations, offering 30-50% discounts on all merchandise. The liquidation event, managed by B. Riley Retail Solutions, , covers over 550 stores across 15 states and online platforms. The sale includes furniture, home electronics, appliances, and more from leading brands. Store furnishings, fixtures, and equipment are also available for purchase. The event aims to clear all inventory, with no returns or exchanges permitted. Customers are encouraged to shop early for the best selection. B. Riley Retail Solutions, a subsidiary of B. Riley Financial (Nasdaq: RILY), specializes in large-scale retail liquidations.

Positive

• Potential for increased short-term revenue from liquidation sales
• Opportunity to clear all inventory and store assets
• Wide geographical coverage of the sale across 15 states and online platforms

Negative

• Closure of over 550 Conn's HomePlus and Badcock Home Furniture & More stores
• Loss of long-term revenue streams from these store locations
• Potential negative impact on B. Riley Financial's (RILY) retail segment long-term performance

Retail Industry Analyst

The commencement of store closing sales across Conn's HomePlus and Badcock Home Furniture & More locations signals a significant shift in the retail landscape for home goods and electronics. With discounts ranging from 30% to 50% off, this liquidation event could have ripple effects throughout the industry.

The scale of this closure, encompassing over 550 stores across 15 states, suggests a substantial restructuring or potential bankruptcy for these long-standing retailers. This move likely reflects the ongoing challenges faced by traditional brick-and-mortar stores in competing with e-commerce giants and adapting to changing consumer behaviors.

For investors, this development raises several key points:

• The home goods and electronics retail sector may be facing increased pressure, potentially affecting other players in the space.
• There could be opportunities for competitors to gain market share in the affected regions.
• The liquidation of such a large inventory may temporarily impact pricing and demand dynamics in the local markets.

It's important to monitor how this closure affects other retailers in the sector, such as Best Buy, Lowe's and Home Depot, as they may experience short-term benefits from reduced competition but could also face long-term challenges if this is indicative of broader industry trends.

Financial Analyst

The large-scale liquidation of Conn's HomePlus and Badcock Home Furniture & More inventory presents a complex financial picture. While the immediate impact is a significant revenue event from the sale of assets, it also signals the end of ongoing operations for these stores, which will result in a substantial loss of future revenue streams.

Key financial implications include:

• A short-term cash influx from the liquidation sales, which could be used to pay down debt or redistribute to shareholders.
• Potential write-downs on remaining inventory and assets, which could impact the parent companies' balance sheets.
• Reduction in operating costs after store closures, potentially improving overall financial health if these locations were underperforming.

Investors should pay close attention to the financial reports of the parent companies in the coming quarters to assess the full impact of these closures on their bottom line. Additionally, the involvement of B. Riley Retail Solutions, a subsidiary of B. Riley Financial (NASDAQ: RILY), in managing the liquidation could provide a boost to RILY's financial services segment.

The broader economic implications of this large-scale retail closure, including job losses and vacant commercial real estate, should also be considered when evaluating the overall market impact.

Initial discounts of 30 to 50% off across all merchandise, both in-store and online

Sale event is being managed by B. Riley Retail Solutions, LLC

THE WOODLANDS, Texas and MULBERRY, Fla., July 25, 2024 /PRNewswire/ -- Store closing sales have commenced across Conn's HomePlus and Badcock Home Furniture & more locations with starting discounts of 30-50% off across in-store and online merchandise, including name-brand furniture, home electronics and appliances to liquidate all inventory.

B. Riley Retail Solutions, LLC is managing the liquidation event, both online and in over 550 stores across Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Store furnishings, fixtures, and equipment are also available for sale.

The sale offers consumers a broad assortment of affordable home furniture, appliances, consumer electronics, office furnishings, accessories, and seasonal items from leading global brands – at significantly reduced prices.

Top-selling appliances and electronics include refrigerators, ranges and stovetops, dishwashers, washers and dryers, TVs, home theater audio and video electronics and mounts, fitness equipment, smart home accessories, as well as computer desktops, laptops, printers and other popular computer and gaming accessories – just in time for back-to-school.

"Conn's and Badcock have served as a go-to destination for its loyal customers' home goods necessities for over a century," stated Tim Shilling, President of B. Riley Retail Solutions. "This sale is an opportunity for shoppers to purchase a wide array of quality furnishings for every room in the home, including brand name appliances and electronics at unprecedented discounts. Inventory will be available for a limited time only – everything must go."

Customers are encouraged to shop the sales early to take advantage of the best selection of merchandise before it sells out. All items must be sold.

All sales are final during this store closing event. There will be no returns or exchanges permitted for purchases made during the store closing sales.

To shop the sale, find the nearest Conn's or Badcock Home location near you or visit www.conns.com and www.badcock.com to shop the sale online.

B. Riley Retail Solutions, LLC efficiently leverages its sector expertise and deploys resources to assist companies, lenders, capital providers, private equity investors and professional services firms in maximizing the value of their assets. The firm is a leading provider of asset disposition services specializing in large-scale retail liquidations. B. Riley Retail Solutions is a subsidiary of B. Riley Financial (Nasdaq: RILY), a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. For more information, visit www.brileyretailsolutions.com.

CONTACT: Jo Anne McCusker, 646-885-5485, press@brileyfin.com

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SOURCE B. Riley Financial

FAQ

What are the discount percentages offered in the Conn's HomePlus and Badcock Home Furniture & More store closing sales?

The store closing sales offer initial discounts of 30 to 50% off across all merchandise, both in-store and online.

How many Conn's HomePlus and Badcock Home Furniture & More stores are participating in the closing sales?

The closing sales are taking place in over 550 stores across 15 states, including Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia.

Which company is managing the liquidation sales for Conn's HomePlus and Badcock Home Furniture & More?

B. Riley Retail Solutions, , a subsidiary of B. Riley Financial (Nasdaq: RILY), is managing the liquidation event for Conn's HomePlus and Badcock Home Furniture & More.

What types of products are available during the Conn's HomePlus and Badcock Home Furniture & More closing sales?

The sales offer a wide range of products including furniture, home electronics, appliances, office furnishings, accessories, and seasonal items from leading global brands.