If you walked into an At Home store recently, you probably didn't notice much of a difference. The aisles are still massive. The orange signs are still bright. The selection of mirrors is still slightly overwhelming. But behind the scenes, the corporate structure of this home decor giant just went through a meat grinder.
Honestly, the question of who owns At Home stores used to have a simple answer. For a long time, they were public. Then a big private equity firm bought them. But as of late 2025 and moving into 2026, the keys to the kingdom have been handed over to a group of people who weren't even in the retail business a few years ago: their lenders.
The Big Switch: From Private Equity to Lenders
For the last few years, the name you would hear associated with At Home was Hellman & Friedman. They are a massive private equity firm based in San Francisco. Back in 2021, they took At Home private in a deal worth about $2.8 billion. It was a huge bet on the "treasure hunt" retail model.
But things got messy. Fast.
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High interest rates, supply chain nightmares, and a mountain of debt—much of it left over from that 2021 buyout—pushed the company to the brink. In June 2025, At Home filed for Chapter 11 bankruptcy. It wasn't because people stopped buying throw pillows; it was because the company simply couldn't afford the interest on its own debt.
Meet the New Bosses
By October 2025, the dust settled. As part of the reorganization plan approved by a Delaware court, Hellman & Friedman basically exited the picture. The ownership was transferred to a group of investment firms and hedge funds that were previously the company's creditors.
The main players now calling the shots are:
- Redwood Capital Management
- Farallon Capital Management
- Anchorage Capital Advisors
These aren't exactly household names like Target or Walmart. They are heavy-hitting financial institutions based in New York and San Francisco. They swapped the debt they were owed for equity in the company. In simpler terms: they decided it was better to own the store than to watch it go completely under.
Why Does Ownership Matter to You?
You’re probably thinking, "I just want a cheap rug, why do I care about hedge funds?"
It matters because owners dictate the "vibe" of the store. When Hellman & Friedman owned it, the goal was aggressive expansion. They wanted more stores, bigger footprints, and more private labels like Honeybloom and Providence.
The new lender-owners have a different priority: profitability.
We are already seeing the effects. During the bankruptcy process, they shuttered about 30 underperforming locations across the country—places like San Jose, Peoria, and Princeton. They are "trimming the fat." If you've noticed your local store feels a bit more organized or that they are pushing their mobile app harder, that's the new ownership trying to modernize a business model that was stuck in the 90s.
The Man in the High Castle: Brad Weston
While the hedge funds own the shares, they don't actually run the cash registers. That job falls to Brad Weston, who took over as CEO in June 2024.
Weston is a retail veteran. He’s the guy who navigated Party City through its own rocky times and spent years at Petco. He’s currently the face of the "new" At Home. Under his leadership, the company is testing smaller store formats—around 75,000 square feet instead of the usual 150,000. It’s a "less is more" strategy that the new owners are banking on.
A Legacy of Identity Crises
To understand who owns At Home stores today, you have to look at where they came from. This company has changed names and owners more often than some people change their living room layouts.
- Garden Ridge Pottery (1979): It started as a regional Texas chain.
- The First Bankruptcy (2004): Even back then, the big-box model was tough to manage.
- The IPO (2016): They went public under the ticker HOME.
- The Private Equity Era (2021): Hellman & Friedman buys them out.
- The Lender Era (Current): Redwood, Farallon, and Anchorage take over to save their investment.
What Most People Get Wrong About At Home
A common misconception is that At Home is owned by the same people who own HomeGoods or Wayfair.
Nope.
HomeGoods is part of the TJX Companies (the TJ Maxx people). Wayfair is its own beast entirely. At Home is a standalone entity. That’s actually part of the problem. They don't have a "big brother" company to lean on when the economy gets weird. They have to stand on their own two feet, which is why the $2 billion debt wipeout they achieved in late 2025 was such a big deal.
The company basically got a "clean slate." No more massive interest payments to Hellman & Friedman's lenders. Now, every dollar they make can actually go back into the business—or into the pockets of those New York investment firms.
Actionable Insights for the Savvy Shopper
If you’re a regular at At Home, here is what this ownership shift means for your wallet in 2026:
- Watch for "Smaller" Big Boxes: The days of the 200,000-square-foot warehouse might be numbered. Expect more condensed stores in urban areas.
- App-Exclusive Deals: The new owners want data. They are pushing the At Home Insider Picks and the mobile app harder than ever. If you want the best prices, you're going to have to let them track your shopping habits.
- Inventory Shifts: Expect fewer "weird" items and more high-turnover products. Hedge funds love things that sell fast. If a specific style of patio furniture isn't moving, it’ll be on the clearance rack faster than you can say "Chapter 11."
- Credit Terms: If you have an At Home credit card, keep an eye on your mail. Ownership changes often lead to new partnerships with banks (like Synchrony) and changes in rewards structures.
At Home is currently in its "redemption arc." The debt is gone, the stores are leaner, and the leadership is seasoned. Whether a group of hedge fund managers can successfully run a home decor empire remains to be seen, but for now, the orange roofs aren't going anywhere.
Check your local listings to see if your store survived the 2025 cuts. If it did, you're likely looking at the flagship of a very different, very focused version of the company. Keep an eye on the "New Arrivals" section—it’s the best indicator of whether the new owners actually understand what you want in your house.
To stay ahead of the curve, sign up for their loyalty program now. The new owners are prioritizing "first-party data," which means the best coupons are moving away from paper and into the app. If you're planning a major renovation or seasonal redecoration, check the clearance sections of the 30 closed stores if any are still finishing their liquidations; those are where the real "treasure hunt" deals are hiding.