Home goods retailer At Home has filed for bankruptcy, following what the company described as an increasingly difficult economic situation brought on by tariffs.

According to CNN, At Home announced its filing on June 16, after agreeing to a deal with its lenders to eliminate nearly all of its $2 billion worth of debt, and give the company $200 million in new funds to continue operating while the bankruptcy process plays out. Although the retailer is hoping to keep the majority of its 260 stores open, it still plans to shutter at least 26 locations in the months to come.

In a statement issued by the company, CEO Brad Weston described how At Home has been grappling with "an increasingly dynamic and rapidly evolving trade environment," and that the goal with its bankruptcy filing is to allow the business to survive long term "in the face of continued volatility." Once that process is complete, At Home will move forward with new owners, Weston said.

At Home opened its first location in 1979 in Schertz, Texas, and now operates in 40 states, selling rugs, furniture, bedding and kitchenware.