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Sears Outlet and American Freight have joined forces to become American Freight – Furniture, Mattress, and Appliance. We’re bringing you the widest assortment of quality furniture, mattresses, and home appliances at low prices every day! You can shop us online or at one of our 300+ stores nationwide.
The company was acquired by Franchise Group for US$450M on February 14, 2020, and combined with the former Sears Outlets under the brand American Freight Furniture, Mattress, Appliance.
Franchise Group Inc. has agreed to acquire American Freight Group Inc., a Delaware, Ohio-based retail chain offering brand-name furniture, mattresses and home accessories at discount prices, in an all cash transaction for approximately $450 million from an affiliate of New York PE firm The Jordan Company L.P. and other …
At the time of the deal, about two years ago, the new Sears acquired 491 Hometown stores and 126 appliance Outlet stores. Today there are 312 Hometown stores remaining, a 36% reduction, and 138 Outlet stores, as well as 25 Sears Auto Centers, according the Retail Dive’s analysis of Sears’ website.
We are able to keep our prices low by operating differently than other furniture and appliance stores. First, we obtain our merchandise directly from manufacturers through closeouts, overruns, and cancelled orders at reduced prices.
| Type | Public |
|---|---|
| Defunct | October 23, 2019 |
| Fate | Sears Outlet acquired by Franchise Group with the rest of the company acquired by Transform Holdco. |
| Headquarters | Hoffman Estates, Illinois |
| Number of locations | 491 Hometown (June 2019) 126 Outlet (June 2019) |
Sears Hometown is a collection of smaller stores selling tools, appliances, and lawn and garden equipment. … The Hometown stores had nearly $960 million in sales in the fiscal year that ended in February 2019. Both Sears Hometown and Sears are controlled by Mr.
American Freight’s founder and CEO, Steve Belford, will continue to hold a significant ownership position in the company along with other shareholders and members of the senior management team, officials at the Jordan Co. said.
American Freight | Citi Sears Card Apply and Use.
American Freight sells two types of merchandise: New and Out of Box. New products have never been used and have never been out of the box. We work directly with appliance manufacturers and other major retailers to liquidate their overstock or out-of-season products at discounted prices!
At American Freight, we stock a large variety of refurbished appliances, including Refrigerators and freezers, Washers & Dryers, Cooking Appliances and more. Find out about our Slightly Imperfect range of refurbished appliances sold at greatly discounted prices!
Furniture – Floor Model Policy All American Freight stores have a large inventory of furniture in the warehouse for customers to take home. … We want all customers to have brand new furniture, so floor models are not available for purchase.
After a tumultuous 2020 that included a bankruptcy filing, store closures, new ownership, and a global pandemic, the iconic department store retailer is surprisingly no longer in the headlines. … A mall entrance to the JCPenney White Marsh, Maryland department store on March 17, 2021.
The closures reflect Sears’ long-standing struggle in the face of rising e-commerce buying, changing consumer tastes and fallout from the COVID-19 pandemic.
A recent Forbes article estimates there will be about 30 Kmart and 36 Sears stores left after the new closings. Until very recently, Kmart operated over 2,100 stores in all 50 states. Now only 34 stores remain, with five (including the Long Beach location) in California.