Texas furniture retailer Conn’s plans mass store closings

HOUSTON – Bloomberg reports that Furniture retailer Conn’s Inc. is planning to shutter around 100 locations and liquidate the inventory as part of a bankruptcy filing planned for the coming weeks, according to people with knowledge of the matter. The company, based in The Woodlands, has also been huddling with investors in search of financing to help fund its bankruptcy process, according to some of the people, who asked not to be named discussing private information. The store closings would amount to nearly 20% of its footprint and more than 40% of the stores it controls. The company in an April presentation said it had more than 550 locations, though 378 were dealer-owned as part of its franchise model.