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Regional Home Goods Chain’s Bankruptcy Leaves Vendors Holding the Bag

Submitted by ckanon@abi.org on
Altmeyer Home Stores’s most recent new store relocation took place just months ago, and now, after more than eight decades, the end has come, HFN Digital reported. The company filed for chapter 7 in the U.S. Bankruptcy Court for the Western District of Pennsylvania and will liquidate. In its filing, the 81-year-old family-owned business operated 11 stores focused on bedding, window and kitchen accessories and rugs. Several stores closed immediately, and the retailer’s website, bedbathhome.com, is still up but inoperable. After any administrative expenses are paid, no funds will be available to unsecured creditors, the 11-unit retailer noted in its bankruptcy filing. Rather than a ranking of top creditors listed by amount of money owed, the filing identified creditors to be notified of the bankruptcy. The creditors’ list also included real estate firms, local utilities, financial services and other third-party contractors. The company estimates its liabilities at between $100,000 and $500,000. President Robert C. Altmeyer – the fourth generation to head the business – said that online competition, sourcing problems and inflation were too much to overcome.
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