Conn's, a 134-year-old American furniture retailer, has filed for Chapter 11 bankruptcy and is closing all 553 stores due to declining sales and liquidity issues. The company cited significant challenges, including shifts in consumer behavior, interest rate pressures, inflation, and increased costs from a recent merger. Conn’s faced reduced debt limits and high-cost loans, prompting the bankruptcy filing. The company plans to close 71 stores, with Florida experiencing the highest number of closures. Conn’s stock has plummeted over 92% in the past year, reflecting its financial struggles amid a challenging economic environment.