The fall of Conn’s Inc., a long-standing furniture and home goods retailer, shows how Joe Biden and Kamala Harris’s Bidenomics policies are hitting Main Street hard.
After 134 years in business, Conn’s has filed for bankruptcy.
Conn’s, which sold affordable home goods has been struggling with slow sales and cash flow issues.
These issues come straight from today’s economic climate, where people are spending less on non-essentials like furniture and home goods.
The company’s money troubles got so bad that CEO Norman L. Miller called their cash needs “dire and immediate.”
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This cash crunch is a clear result of the inflation and high interest rates that have become typical under current economic policies.
Conn’s story is particularly sad given its long history.
It started as a small heating and plumbing shop in 1890 and grew into a major retailer. But the pressures of today’s economy proved too much.
Home Goods Seller Conn’s Files for Bankruptcy, Plans to Shut Down – WSJ.. The second lien number is simply out of control $RILY https://t.co/YDNaYs8NGu
— Marc Cohodes (@AlderLaneEggs) July 24, 2024
With over 550 stores in 15 states and about 3,800 workers, Conn’s closure will affect many.
The company plans to sell off its assets and close all stores by October, showing just how urgent their money problems are.
While Conn’s says it’s still talking to potential buyers, things don’t look good.
This case is a warning about how the policies of Joe Biden and Kamala Harris are hurting even long-established businesses, leading to closures and job losses.
As more retailers face these economic challenges, Conn’s bankruptcy might be just the beginning.
It’s time to right the ship, and fast.
