Restructuring, Retail Shifts, and Tariff Outlook

Originally published November 26, 2025. This version was rebuilt from Court docket, Conference Board, NAHB, company and White House releases for the FIN archive, and the facts are as of that date.

Thanksgiving week 2025 put a lot in front of the industry at once. A large furniture chain went into bankruptcy, shoppers turned more cautious and the trade outlook with China softened a little.

The short version

• American Signature, parent of Value City Furniture, filed for Chapter 11.
• Consumer confidence fell sharply in November.
• Builder confidence stayed in negative territory.
• Bed Bath & Beyond agreed to buy The Brand House Collective, owner of Kirkland's Home.
• The US cut its fentanyl-related tariff on Chinese goods under a new deal with China.

Value City's parent files

American Signature, the parent of Value City Furniture and American Signature Furniture, filed for Chapter 11 in Delaware on November 22. A filing that size put pressure on suppliers with open invoices.

Shoppers grow more cautious

The Conference Board's consumer confidence index fell to 88.7 in November from 95.5 in October. The expectations index stayed well below the level that often signals a recession ahead.

That did not rule out a decent Black Friday, since promotions still drew shoppers. It did suggest that big-ticket purchases would need a clear reason, whether a price, a financing offer or a move.

Builders stay gloomy

The NAHB/Wells Fargo Housing Market Index rose one point to 38, still firmly negative. Builders pointed to the government shutdown, tariffs and higher building costs.

Bed Bath & Beyond adds Kirkland's

Bed Bath & Beyond, Inc. agreed to acquire The Brand House Collective, the parent of Kirkland's Home, in an all-stock deal valued at about $26.8 million. It extended a partnership that was already bringing the Bed Bath & Beyond name back to physical stores.

Some tariff relief on China

Under a deal announced November 1, the US cut the fentanyl-related tariff on Chinese imports to 10% and kept higher reciprocal rates suspended until November 10, 2026. China agreed to pause new rare earth export controls. Separate Section 232 duties on upholstered furniture and kitchen cabinets were unchanged, so the relief for furniture importers was partial.

Heading into the holidays

The week showed an industry still sorting out who would survive the slow market, with a little help on trade costs and not much from shoppers or housing.

Related on FIN

• Furniture Shoppers Are Holding Back
• Follow the Tariff Dollars

Sources

• US Bankruptcy Court, District of Delaware, American Signature, Inc. Chapter 11 docket
• The Conference Board, US Consumer Confidence Fell Sharply in November
• NAHB, Builder Sentiment Relatively Flat in November
• Bed Bath & Beyond, Inc., Merger agreement to acquire The Brand House Collective
• The White House, Fact sheet on economic and trade relations with China