Yes, Conn’s HomePlus is going out of business. The company filed for Chapter 11 bankruptcy in July 2024, and this is not a restructuring. Every single store is closing permanently.
If you shop at Conn’s, have an open loan with them, or work at one of their locations, here is what you need to know right now.
Conn’s Is Permanently Closing All Its Stores
Conn’s filed for Chapter 11 bankruptcy in the Southern District of Texas (Houston) in July 2024. Early reports suggested the company might close 70 to 105 stores and keep the rest open. That plan did not hold.
The situation escalated quickly to a full-chain liquidation. Every Conn’s HomePlus location is closing — all 174 stores across 15 states. On top of that, all Badcock Home Furniture & More locations are also part of the wind-down. Combined, that is more than 550 store closures.
There is no reorganization plan. No buyer is stepping in to keep the brand alive. This is a complete wind-down of the business.
According to court filings reported by the Wall Street Journal, Conn’s had approximately $2.4 billion in assets against $1.9 billion in liabilities. Despite those numbers, the company determined that liquidation was the only viable path forward.
The target for completing all going-out-of-business sales is around October 31, 2024, though that timeline is subject to court and operational changes.
If you have seen older news articles suggesting only a partial closure, those reports are outdated. The plan changed, and the full chain is shutting down.
A 134-Year-Old Retailer and How It Got Here
Conn’s was founded in 1890 and headquartered in The Woodlands, Texas. For well over a century, it sold furniture, appliances, electronics, and mattresses primarily to customers across the southern United States.
What made Conn’s different from a typical furniture store was its business model. The company acted as both a retailer and an in-house lender. Customers who could not qualify for traditional financing could get credit directly through Conn’s and pay off purchases over time in installments.
This model worked reasonably well when the economy was stable and customers kept up with payments. But it also meant Conn’s was carrying significant credit risk on its books at all times.
Think of it this way: Conn’s was not just selling couches and refrigerators. It was also functioning like a subprime lender. When customers fell behind on payments, Conn’s did not just lose a retail sale — it absorbed loan losses too.
Rising interest rates and tighter household budgets in the years leading up to 2024 put serious pressure on that model. Consumers pulled back on discretionary spending, delinquencies increased, and the company’s financial losses mounted.
Then, in December 2023, Conn’s acquired W.S. Badcock Home Furniture & More. That purchase added hundreds of new locations to its portfolio. Within months, the company filed for bankruptcy — taking both the Conn’s and Badcock brands down with it.
Which States and Locations Are Affected
All 174 Conn’s HomePlus stores across 15 states are closing. If you live in any of the following states, your local Conn’s is either already closed or in the process of closing:
- Texas (74 stores — the largest concentration by far)
- Florida (20 stores)
- North Carolina (12 stores)
- Georgia
- Virginia
- Alabama
- Mississippi
- Louisiana
- Oklahoma
- Tennessee
- Arizona
- Colorado
- Nevada
- New Mexico
- South Carolina
All Badcock Home Furniture & More locations are also closing as part of the same liquidation process. Local news outlets across Southeast Texas, Plano, and other markets have confirmed closures in their areas.
No Conn’s or Badcock stores are exempt from this process. The entire chain is shutting down.
What the Liquidation Sale Means for Shoppers
If you are thinking about visiting a Conn’s going-out-of-business sale, here is what to expect.
The liquidation is being managed by B. Riley Retail Solutions, both in stores and online. Discounts are running around 30 to 50 percent off on furniture, appliances, electronics, and mattresses. Store fixtures and equipment are also being sold.
The important thing to understand: all sales are final. There are no returns and no exchanges on anything purchased during the liquidation. Once you buy it, it is yours.
Post-sale customer support will also be extremely limited. The stores are closing. Staff is being reduced. You should not expect the same service experience you would get from a normal retail purchase.
A good way to think about it: shopping at a Conn’s liquidation sale is similar to buying from a final clearance at a closing department store. The prices are lower than usual, but the transaction ends at the register. There is no warranty service to call, no return counter to visit, and no one at a local store to follow up with.
If you are price-sensitive and comfortable accepting those terms, there are real deals to be found. Just go in with clear expectations.
What Happens If You Have an Existing Conn’s Loan or Financing
This is one of the most common questions from current Conn’s customers, and the answer is straightforward: you still owe the money.
Conn’s consumer installment loan portfolio is being auctioned off as part of the bankruptcy process. A court-approved auction was scheduled for September, with a sale hearing set for around October 1. That means another financial entity will likely take over servicing your loan.
The servicer may change, but the loan obligation does not go away. Customers with financed purchases are advised to keep making payments as agreed and to watch for any official communications about where to send future payments.
Hold onto all your paperwork — your original financing contract, payment history, and any receipts. If the loan servicer changes, you will want that documentation on hand.
What About Warranties and Service Agreements?
If you purchased a protection plan or extended warranty from Conn’s, the situation is less clear-cut. The status of those agreements depends on the specific contract terms and decisions made through the bankruptcy court process.
The practical advice here is to contact Conn’s or the warranty provider directly as soon as possible. Do not wait. If you have an active claim or a repair that needs scheduling, try to get it moving before the stores in your area fully close.
Do not assume your warranty is automatically void — but also do not assume it will be honored without any complications. Check official notices from the bankruptcy proceedings and keep records of all communications.
What Employees and Communities Are Facing
More than 4,000 employees worked at Conn’s HomePlus locations alone. With the Badcock stores added in, the total impact on jobs is significantly larger.
Local communities — particularly in Texas and the Southeast — are losing a retail option that specifically served customers who had difficulty getting approved through traditional credit channels. Conn’s filled a niche that mainstream big-box retailers do not always address. That gap will not automatically be filled by another retailer when the stores close.
For business owners and managers watching the retail sector, Conn’s story is a clear example of what happens when a hybrid retail-finance model runs into a sustained period of rising borrowing costs and reduced consumer spending. The risk that made the business model profitable in good times became the same risk that accelerated its collapse.
For broader analysis of business closures, retail trends, and what they mean for entrepreneurs and communities, DailyBizNotes covers these developments on an ongoing basis.
The Bottom Line
Conn’s HomePlus is not restructuring. It is not closing a few stores while keeping others open. Every Conn’s and Badcock location across the country is shutting down, with liquidation sales targeting completion by late October 2024.
If you are a customer with an existing loan, keep making payments and watch for notices about a change in loan servicer. If you have a warranty or service agreement, contact the provider now rather than waiting. If you are shopping the liquidation sales, know that all purchases are final and post-sale support will be minimal.
And if you work at one of these locations, the timeline is clear — the stores are closing, and it is worth starting your job search now rather than later.
Conn’s had 134 years of history. Its collapse is a real loss for the employees, customers, and communities that depended on it. Understanding exactly what is happening — and acting on that information quickly — is the most practical thing anyone affected can do right now.
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