Home decor retailer Old Time Pottery has filed for protection from its creditors as it seeks to recover from the impact of COVID-19, Nashville (Tenn.) Post reported. Murfreesboro-based Old Time Pottery runs 43 stores and employs about 800 people. The company’s chapter 11 filing late last month came 10 years after it emerged from a previous reorganization that involved closing seven of the 36 stores it operated at the time. This time, its executives are planning to close four stores in Illinois, Florida and the Carolinas, and possibly others as they try to ride out the drop in sales caused by the pandemic. Old Time Pottery is securing $32.3 million in debtor-in-possession financing from Second Avenue Capital Partners. That money will go toward paying off debt held by PNC Bank, Old Time Pottery’s lender since 2014.
