NORWOOD, MA – Domain Inc., parent company of Domain Home Furnishings, has filed for Chapter 11 bankruptcy, according to The Patriot Ledger.
In its bankruptcy petition, the company claimed 5,000 to 10,000 creditors and reported its assets and liabilities totaled $10,000,000 to $50,000,000 each. Reportedly, all 27 Domain Home Furnishings stores will stay open under protection of the court while developing a reorganization plan.
In a written statement released Friday, the company attributed its financial situation to the stresses of operating the chain “particularly in today’s depressed economic and real estate environment.”
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