Latest news with #RSA
Miami Herald
3 days ago
- Business
- Miami Herald
Huge home retailer closing 26 stores amid Chapter 11 bankruptcy
People tend to say not to believe everything they hear, unless it comes straight from the horse's mouth. However, this big-box retailer began abruptly closing multiple locations. As rumors of bankruptcy started to swirl, many loyal customers began to worry about the future of this beloved chain. Don't miss the move: Subscribe to TheStreet's free daily newsletter Everyone's mom had a retailer they were utterly obsessed with, and we were forced to tag along as their personal bag carriers for what felt like hours. Although we might have hated it as teens, many of us grew to love these stores as adults, causing nostalgia every time we enter their doors. Related: Huge HomeGoods rival files Chapter 11 bankruptcy, closes stores Founded in 1979, At Home, previously known by loyal fans as Garden Ridge, is a home decor and furnishing retail chain with 260 locations in 40 states. Sadly, the lessons here are that we must never take things for granted, because the rumors turned out to be true. Image source: Shutterstock At Home filed for Chapter 11 bankruptcy on June 16 in the U.S. Bankruptcy court for the District of Delaware, citing unsustainable costs due to tariffs and a slowdown in consumer spending as the main reasons. As part of the filing, the retail chain has entered a Restructuring Support Agreement (RSA) with stakeholders to eliminate nearly $2 billion in funded debt and provide $200 million in financing to support the retailer through its restructuring process. More Retail News: After bankruptcy, closed clothing chain hints at comebackPopular fast-food burger chain to open first store in new marketBeloved grocery chain closing all stores without bankruptcy filing Once At Home emerges from the RSA, ownership is expected to transition to the supporting lenders to improve At Home's overall profitability and finances. "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 for the long term," stated At Home in a press release. As a result of the filing, At Home will permanently close 26 underperforming stores by September 30, according to court documents. Related: Bankrupt retail chain makes major comeback, reopens new stores Here is a list of all locations on the chopping block: 6135 Junction Boulevard in Rego Park, New York300 Baychester Ave. in Bronx, New York750 Newhall Drive in San Jose, California2505 El Camino Real in Tustin, California14585 Biscayne Boulevard in North Miami, Florida2200 Harbor Boulevard in Costa Mesa, California3795 E. Foothills Boulevard in Pasadena, California1982 E. 20th St. in Chico, California2820 Highway 63 South in Rochester, Minnesota26532 Towne Center Drive Suites A-B in Foothill Ranch, California1001 E. Sunset Drive in Bellingham, Washington8320 Delta Shores Circle South in Sacramento, California1361 NJ-35 in Middletown Township, New Jersey2900 N. Bellflower Boulevard in Long Beach, California720 Clairton Boulevard in Pittsburgh, Pennsylvania2530 Rudkin Road in Yakima, Washington571 Boston Turnpike in Shrewsbury, Massachusetts5203 W. War Memorial Drive in Peoria, Illinois8300 Sudley Road in Manassas, Virginia461 Route 10 East in Ledgewood, New Jersey301 Nassau Park Boulevard in Princeton, New Jersey300 Providence Highway in Dedham, Massachusetts905 S 24th St. West in Billings, Montana19460 Compass Creek Parkway in Leesburg, Virginia3201 N. Mayfair Road in Wauwatosa, Wisconsin13180 S. Cicero Ave. in Crestwood, Illinois "As we work through this process, our stores and the teams that support them remain customer focused and committed to serving and inspiring customers, enabling them to Design Their Life At Home," said At Home in the press release. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
NDTV
3 days ago
- Automotive
- NDTV
Vinfast Signs Global Assure To Improve EV Ownership Experience In India
VinFast, a leading global electric vehicle manufacturer, today announced its collaboration signing 'Global Assure' to strengthen its customer service network across India. Global Assure is one of India's most trusted customer service providers. This collaboration is designed to deliver comprehensive customer support and innovative mobility solutions across the Indian market, reinforcing VinFast's commitment to an exceptional customer experience in the rapidly growing electric vehicle segment. Through this association, Global Assure will oversee the seamless delivery of essential customer care services, including a Dedicated 24x7 Call Centre, nationwide Roadside Assistance (RSA), Mobile charging solutions, and on-demand Mobile service operations. These services will be accessible to VinFast customers across the country, ensuring quick, reliable, and convenient support anytime and anywhere. All the above services will be connected through Toll Free No 1800-571-8888 and email - vfcareindia@ for customer convenience. Commenting on the collaboration, Mr. Pham Sanh Chau, VinFast CEO Asia said, As VinFast is gearing up to launch its premium electric SUVs - the VF 7 and VF 6 in India market, this partnership underlines the brand's commitment to ensure prompt, dependable, and customer-focused support across the country. Global Assure's strong capabilities and nationwide reach are well aligned with our commitment to quality, convenience, and care. Together, we aim to establish a holistic and reliable electric mobility ecosystem in India that extends beyond our vehicles to offer true peace of mind for our customers." Signing the partnership, Manish Vij, Co-founder & CEO, Global Assure, said, "We are excited to be the trusted partner of VinFast's customer support in India. With Global Assure's extensive expertise in a deep understanding of Indian customer needs and pan-India presence, VinFast customers can expect efficient response times and high-quality service, making every journey smoother, safer, and more reassuring for VinFast owners." The comprehensive service portfolio will include: 24/7 Customer Support: A dedicated call centre staffed with trained professionals to address customer queries and provide immediate assistance around the clock. Nationwide Roadside Assistance: Emergency roadside support services are available across India, ensuring customers are never stranded regardless of location. Mobile Charging Solutions: On-demand mobile charging services to provide convenient charging options wherever customers may need them. Mobile Service Operations: A dedicated fleet of emergency support mobile Vans are equipped to ensure prompt on-site visits and assistance to customers during unexpected breakdowns for basic repair needs.
Business Wire
4 days ago
- Business
- Business Wire
At Home Group Enters Agreement to Facilitate Ownership Transition and Position Business for Long-Term Success
DALLAS--(BUSINESS WIRE)--At Home Group Inc. ('At Home' or the 'Company') today announced steps the Company is taking to strengthen its financial foundation and position the business for long-term success while continuing to serve its customers. The Company has entered into a Restructuring Support Agreement (the "RSA") with lenders holding more than 95% of the Company's debt that sets forth terms of a prearranged financial restructuring that will eliminate substantially all of the Company's nearly $2 billion in funded debt and provide a capital infusion of $200 million to support the Company through its restructuring process and beyond. Pursuant to the RSA, following the consummation of its restructuring, the Company expects there will be a transition of ownership of At Home to the lenders supporting the RSA and providing the Company with new capital, including funds affiliated with Redwood Capital Management, LLC, Farallon Capital Management, L.L.C., and Anchorage Capital Advisors, L.P. 'We are pleased to have reached this agreement with our lenders, which represents a critical and positive advancement of our work to best position At Home for the future,' said Brad Weston, Chief Executive Officer of At Home. 'Over the past several months, we've taken deliberate steps to strengthen the foundation of our business - sharpening our focus, elevating our customer value proposition, and driving operational discipline. These efforts are aimed at delivering sustained sales growth, optimizing our inventory management, improving efficiency, and enhancing overall profitability. While we have made significant progress advancing our initiatives to date, we are operating against the backdrop of an increasingly dynamic and rapidly evolving trade environment as we navigate the impact of tariffs. 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 for the long term.' 'We are grateful to be moving forward with significant support from our financial stakeholders, which demonstrates their confidence in our business and our future strategy,' continued Weston. 'Upon emergence from the prearranged restructuring process, At Home will move forward with new owners and a meaningfully strengthened balance sheet. Importantly, this process will also further equip us with opportunities to invest in our strategic initiatives and to continue fortifying our business for the long term. As we work through this process, our stores and the teams that support them remain customer focused and committed to serving and inspiring customers, enabling them to Design Their Life AT HOME.' Additional Information About the Court-Supervised Process To implement the terms of the RSA, the Company and certain of its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the 'Court'). At Home is continuing to serve customers during the court-supervised process, providing exceptional value through affordable design and decorating solutions both in-store and online. Under the RSA, the Company has agreed to certain milestones to ensure an orderly emergence from Chapter 11 as soon as practicable after the filing of the cases. In connection with this process, At Home is entering into an agreement for $600 million in debtor-in-possession ('DIP') financing, which includes the $200 million capital infusion from certain of its existing lenders and a 'roll up' of $400 million of existing senior secured debt. The Company's existing lenders and ABL lenders have also consented to the Company's use of cash collateral during these Chapter 11 cases. Upon Court approval, the Company expects this financing, together with cash generated from At Home's ongoing operations, will provide sufficient liquidity to support the business during the court-supervised process. At Home has filed a number of customary 'first-day' motions with the Court to maintain business operations, facilitate the efficient administration of the Chapter 11 cases, and uphold its go‑forward commitments to its stakeholders, including the continued payment of team member wages and benefits without interruption. At Home fully expects to pay vendors and suppliers in full under normal terms for goods and services provided after the filing date. The Company expects to receive court approval for these requests in the near term. Additional information regarding At Home's court-supervised process is available at Court filings and other information related to the proceedings, including instructions on how to file a proof of claim, are available on a separate website administered by the Company's claims agent, Omni Agent Solutions, Inc. ('Omni'), at by calling Omni toll-free at (888) 818-9346 or (747) 293-0014 for calls originating outside of the U.S. or Canada, or by sending an email to AtHomeInquiries@ Advisors Kirkland & Ellis is serving as legal counsel, PJT Partners is serving as financial advisor, AlixPartners is serving as restructuring advisor and Hilco Real Estate is serving as real estate consultant to At Home. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor. Dechert LLP is serving as legal counsel and Evercore Group LLC is serving as financial advisor to the ad hoc group of lenders. About At Home: AT HOME believes your home should be a reflection of your personal style – warm, thoughtful and inviting. As your go-to source for design and decorating inspiration, AT HOME offers exclusive, elevated collections that blend value with distinctive style. The Company is passionate about helping customers Design Their Life AT HOME with beautiful, accessible solutions that inspire and engage. Headquartered in Coppell, Texas, AT HOME currently operates 260 stores in 40 states. For more information, please visit us online at
Zawya
4 days ago
- Politics
- Zawya
South African citizens in the Islamic Republic of Iran requested to ensure they are registered with the Embassy
South Africa wishes to urge all its citizens currently in the Islamic Republic of Iran to contact the Embassy in Tehran to ensure that they are registered with and that their whereabouts are known to the Embassy. It is important to note that South Africa's support in the country is limited and that it could be assumed that no face-to-face consular assistance will be possible in an emergency and the South African Government may not be able to help you if you get into difficulty, depending on your location. Therefore, citizens are further encouraged to assess their own safety and security and act accordingly. The following contacts may be used: Tehran: Telephone: +98-912-230-8968 Telephone: +98-930-495-8965 Helpline of the Department of International Relations and Cooperation in Pretoria, RSA: Telephone: +27 12 351 1000 The web page of DIRCO may be consulted for further contact information ( Distributed by APO Group on behalf of Republic of South Africa: Department of International Relations and Cooperation.
Otago Daily Times
5 days ago
- Otago Daily Times
Lost but not forgotten
During a six week trip to Europe we attended the Dawn Service at Anzac Cove and laid our five of our ten RSA Poppies there. Our travels then took us onto England and then to France. Two Poppies were left in the UK, one left in France at the crash site of a Mosquito and its Aussie and UK crew, and three on Kiwi Graves at the Bayeaux Cemetery. We then ventured to Le Mans to seek out the grave of your local hero, James Fraser Barron DSO and Bar, DFC, DFM. Having no RSA poppies left we laid some wild ones, plus my New Zealand Patch. It's only a small thing perhaps, but if Kiwis are near where other Kiwis are buried, having given their all for the values we should even now be still defending, it's nice to remember them. - Alan Peacock
