Another huge home improvement company files Chapter 11 bankruptcy
The home improvement products provider reached a prearranged restructuring agreement with its secured lenders and mechanics lienholders.
A combination of high home prices, elevated mortgage rates, and low buyer demand has slowed the housing market over the last year, contributing to financial distress in the home improvement market.
Previously occupied home sales in 2024 declined to their lowest level since 1995 with 4.06 million sales, which was 0.7% lower than 2023.
