Home decor retailer Old Time Pottery announced Monday morning that it has started chapter 11 bankruptcy proceedings in order to restructure its finances, the Murfreesboro (Tenn.) Daily News Journal reported. Based in Murfreesboro, Tenn., the company said that the move was due to the COVID-19 pandemic. "Prior to COVID-19, Old Time Pottery was growing profitability at a near-record pace. When COVID-19 hit in March 2020, the company experienced a sudden and precipitous decline in sales that lasted for six weeks with mandates to close numerous store locations in accordance with state and local government regulations," according to a company news release. As part of the chapter 11 effort, Old Time Pottery will close stores in Fayetteville, N.C., North Charleston, S.C., Rockford, Ill., and Orlando. No reductions in staffing or other closures are expected at other stores, distribution centers or store support centers, the release said. Old Time Pottery operates 43 stores in 11 states, according to its website.
