BIG UPDATE: Historic furniture chain closing after Chapter 11 bankruptcy
Surviving for over a century as a retailer is a rare feat, requiring not only luck but exceptional skill. Very few brands have made it this long, as enduring for over 100 years means either offering iconic products that remain in demand or being agile enough to adapt to shifting consumer preferences.
A Rich History
Founded in 1904, Badcock Home Furniture & More has weathered significant historical events, from the Great Depression to two world wars, and even the unique cultural trends that have come and gone over the decades. This furniture retailer, despite its playful name that has often amused younger generations, boasts a deep-rooted history.
Henry Stanhope Badcock, an immigrant from England, opened the first Badcock store in Mulberry, Florida. After operating the business for 16 years, his son Wogan took over in 1920. The company faced challenges during the land boom and bust of 1929, particularly during the Great Depression, when Wogan innovated by selling merchandise through consignment at local stores and introducing the route salesman model.
This pioneering approach laid the groundwork for what would become Badcock’s enduring business model, allowing the company to thrive for nearly a century.
The Impact of COVID-19 on the Furniture Industry
Unfortunately, the pandemic has had a lasting impact on many retailers, particularly in the furniture sector. While home improvement saw a boom during lockdowns, the surge in demand led to a subsequent decline as consumers had already purchased what they needed. The shift in spending priorities toward experiences over material goods has further strained furniture retailers.
This challenging landscape has forced several furniture companies, including Mitchell Gold + Bob Williams and Z Gallerie, into bankruptcy. Now, Badcock has become another casualty in this troubling trend.
The Closing of Badcock Home Furniture
Recently, Badcock Home Furniture announced the closure of all its stores across eight states, marking the end of a 120-year legacy. This decision follows the Chapter 11 bankruptcy filing of its parent company, Conn’s, which has opted to shut down operations entirely.
On its Facebook page, Badcock confirmed the closures and has begun promoting going-out-of-business sales, offering discounts of up to 50%. However, no specific timeline has been provided for the full closure of its 550 stores, which include both Conn’s and Badcock brands.
In its Chapter 11 filing in the U.S. Bankruptcy Court in Corpus Christi, Texas, Conn’s reported having approximately 3,800 full-time employees and 150 part-time workers across its operations in the United States.
Looking Ahead
The end of Badcock Home Furniture serves as a reminder of the challenges facing many longstanding retailers today. As consumer preferences continue to evolve, businesses must find innovative ways to adapt or risk becoming obsolete.
Also Read: BIG UPDATE: Another Popular Furniture Chain Files For Chapter 11 Bankruptcy
