A major US department store chain has declared bankruptcy after operating for 134 years.

Home goods and furniture retailer Conn’s has filed for bankruptcy, putting hundreds of stores at risk.

by daily Mail

In recent days, the Texas-based chain said it would close 73 of its stores in 13 states as it considers bankruptcy.

Then on Tuesday it filed for Chapter 11 bankruptcy with debts of more than $1 billion, though it also said it had assets, such as stocks and stores, worth that amount as well.

Registration allows you to continue trading while the stores are liquidated.

The closures so far represent 13 percent of its 553 locations. The bankruptcy is feared to lead to more closures, also under Badcock Home Furniture & More, the brand it bought last year.

Conn’s is headquartered in The Woodlands, Texas, and has been around in one form or another for 134 years.

Originally a plumbing and heating company, in 1933, Carol Wayne Cone Sr. acquired the store, giving Cone its modern name.

The store first began retailing refrigerators in 1937, but today it sells everything from appliances to televisions, furniture and more.

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