DALLAS - A home furnishings retailer with 260 stores, including one at the Eastwood Complex in Niles, announced Monday that it has started a process called Chapter 11 bankruptcy. The At Home Group said in a news release it isn’t closing but reorganizing its finances and getting rid of almost $2 billion in debt.

The company expects its ownership to shift to the banks and other lenders it owes money to. This is part of a special agreement they've made.

At Home has a deal with most of its lenders, who hold over 95% of the company's debt. This agreement will also bring in $200 million in new money to help the company keep running smoothly during and after this financial overhaul.

Brad Weston, At Home's CEO, said the company has been working to improve its sales, manage its products better, and operate more efficiently, especially with recent challenges like tariffs.

Even with this bankruptcy filing, At Home says it plans to keep its stores open and continue serving customers both in person and online. They've also secured a $600 million loan to make sure they have enough money to operate while they go through this court-supervised process.