Franchise Group Inc. — the owner of The Vitamin Shoppe, Buddy’s Home Furnishings, American Freight, Pet Supplies Plus and Wag N’ Wash — on Sunday filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for Delaware, listing almost $2 billion in debt, according to the court filing.

Furniture retailer American Freight will close its 328 stores as parent company, Franchise Group Inc., goes bankrupt.

American Freight plans to close all of its 328 stores, including the Portage and Tinley Park locations. The discount furniture, mattress and appliance retailer has a big-box store at 6169 U.S. 6 along Portage's main commercial drag and another at 16040 S.

American Freight, a prominent furniture store chain, is set to close all its 328 locations due to ongoing economic pressures. The decision follows the bankruptcy filing of its parent company, Franchise Group,

The company, which sells discounted new, discontinued and refurbished furniture items, will have up to 30% off all items as part of its closing sale.