American Home Reportedly Restructuring

November 3, 2008  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on November 2008 According to published reports, Albuquerque, N.M.-based American Home has filed for Chapter 11 bankruptcy protection as part of a restructuring effort.

The company, which has five stores in New Mexico and six in Arizona, released a statement in which it said it’s being affected by the housing downturn and tightening credit policies, according to an Associated Press report. The Daily Courier of Prescott, Ariz., also reported American Home’s filing, but court records could not be immediately found to verify those reports.

The Associated Press report Tuesday cited a company press release that stated the company has no plans to shut stores or reduce its 650-person workforce. American Home reportedly shut a warehouse location in the Tucson area in September.