Historic furniture chain closing after Chapter 11 bankruptcy

According to The Street, Surviving for over 100 years as a retailer is a rare achievement that combines both luck and exceptional skill. Only a few brands manage to endure this long, often by offering iconic products that remain in demand despite changing tastes or by being agile enough to adapt to evolving consumer needs.

The Resilience of an Iconic Retailer

Founded in 1904, Badcock Home Furniture & More navigated through numerous historical and economic challenges. The company weathered the Great Depression, two world wars, the housing crash of 2008, and even the pandemic-driven surge in home-related spending. It also endured periods of pop culture oddities, such as the swing dance craze and the 2000s hit “Who Let the Dogs Out?” Despite these trials, Badcock’s longevity speaks to its resilience and ability to adapt.

Impact of the COVID-19 Pandemic on Retail

The COVID-19 pandemic had a profound impact on various industries, with retail being one of the hardest hit. The lockdowns led to increased spending on home-related items, including furniture, connected fitness devices, and appliances. This surge in demand was initially beneficial for furniture companies, but it created an unforeseen problem: a sharp decline in demand once the immediate needs were met. Consumers who had purchased furniture during the pandemic showed reduced interest afterward, similar to the drop in Peloton sales once the initial demand was satisfied.

This shift in consumer behavior, combined with a growing preference for experiences over material goods, created a challenging environment for furniture retailers. This trend contributed to the bankruptcy and liquidation of several companies, including Mitchell Gold + Bob Williams, Z Gallerie, and various regional furniture chains. Badcock Home Furniture & More is the latest victim of this trend.

A Storied History and Innovative Beginnings

Despite its name, which has amused generations of teenagers, Badcock Home Furniture & More has a rich history. Founded by Henry Stanhope Badcock in 1904 in Mulberry, FL, the company initially operated a single store. When the Great Depression hit, Henry’s son Wogan Badcock introduced innovative practices to sustain the business. These included consignment sales, the route salesman model, and offering credit to customers, practices that laid the foundation for the company’s future success.

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The End of an Era: Badcock’s Closure

After operating for over 120 years, Badcock Home Furniture & More is closing its doors. The company confirmed on its Facebook page that all of its stores across eight states will be shutting down. The closure follows the Chapter 11 bankruptcy filing of its parent company, Conn’s, which purchased Badcock in 2022.

At the time of Conn’s acquisition, Badcock had 64 corporate locations and 310 independent dealer-owned stores. Now, with the parent company’s bankruptcy, Badcock has started liquidation sales, offering discounts of up to 50% on its products. The company has not yet provided a specific timetable for the closure of its 550 stores.

In Conn’s bankruptcy filing, the company reported approximately 3,800 full-time and 150 part-time employees. Conn’s also requested court approval to offer bonuses to employees who remain through the going-out-of-business sale.