Conn’s HomePlus, a 134-year-old furniture and electronics retailer with locations primarily in the southern United States, has filed for bankruptcy and is closing nearly half of its 170 stores.

"We’ll almost double our fleet to 2,000 stores in North America, predominantly in under-served small markets,” Old Navy CEO Sonia Syngal said. The first Old Navy store opened in 1994 in Colma ...