14824 South Military Trail in Delray Beach, Florida.20560 State Road 7 in Boca Raton, Florida.2239 East Semoran Blvd in Apopka, Florida.1065 Silas Deane Highway in Weathersfield, Connecticut.835 Queen Street in Southington, Connecticut.2260 Kings Highway in Fairfield, Connecticut.20 Hazard Avenue in Enfield, Connecticut.16531 Washington Street in Thornton, Colorado.1605 Fall River Drive in Loveland, Colorado.1865 North Campus Avenue, Building #15 in Upland, California.10537 4S Commons Drive, Suite 170 in San Diego, California.72459 Highway 111 in Palm Desert, California.14351 Hindry Avenue in Hawthorne, California. ![]() 1405 East Gladstone Street in Glendora, California.1905 Calle Barcelona Suite 100 in Carlsbad, California.1834 South Signal Butte Road in Mesa, Arizona.6850 US Highway 90 Anchor D in Daphne, Alabama.These are the locations Bed Bath and Beyond plans to close in the coming weeks: Many shoppers switched to those competitors as the novelty of Bed Bath and Beyond's coupons faded - consumers can find plenty of cheaper alternatives on Amazon and other online sites. The retailer became known for its ubiquitous 20% off blue coupons, and cavernous stores with merchandise stacked high to the ceilings.īut the company struggled to make the transition to online shopping and fend off larger chains, such as Walmart and Target. It could be forced to file for Chapter 11 bankruptcy reorganization due to its financial woes.įounded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. The company said that "at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code."īed Bath and Beyond defaulted "on or around" January 13, according to the Securities and Exchange Commission filing. Last week, the company warned in a regulatory filing that it received a notice of default from its lender, JPMorgan Chase. ![]() "This store fleet reduction expands the company's ongoing closure program." "As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible," a Bed Bath and Beyond spokesperson told CNN. Included in the new list is 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which once sold cosmetics. The closing stores are in addition to the 150 closures Bed Bath and Beyond announced last August. All rights reserved.(CNN) - Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. ™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. Sheboygan: Memorial Mall, 3347 Kohler Memorial Drive.East Wenatchee: 511 Valley Mall Parkway.Brownsville: Sunrise Palms Shopping Center, 3000 Pablo Kisel Blvd.Mansfield: Ontario Towne Center, 2259 Walker Lake Road.Spring Valley: 14B Spring Valley Marketplace.Edgewater: Edgewater Commons, 489 River Road.Orange City: 963 Harley Strickland Blvd.Tustin: Tustin Market Place II, 13692 Jamboree Road.Campbell: Almarida Place, 515 East Hamilton Avenue.Casa Grande: 1004 North Promenade Parkway.Shares were nearly 4% higher in Thursday trading. Ongoing supply chain issues and inventory constraints cost the company about $100 million, Tritton said. Same-stores sales slipped slipped 7% with sales of $1.9 billion, a 30% decline compared to the same quarter a year ago. The retailer released earnings Thursday and missed analysts’ expectations. Tritton joined Bed Bath & Beyond from Target three years ago and has led the company through a turnaround over the past few years as housebound shoppers increased their spending on kitchen and home essentials. The company has been hit with falling sales and declining foot traffic in recent years as shoppers defect to competitors, such as Target and Amazon, which carry much of the same household basics that Bed Bath & Beyond sells. ![]() The plans, which were announced two years ago, are part of Bed Bath & Beyond’s multi-year transformation that includes creating new, private labels, remodeling stores and focusing on e-commerce under CEO Mark Tritton.Īffected locations will be closed by the end of February and are currently having liquidation sales.īed Bath & Beyond is in the midst of remodeling 450 stores, representing about half of its locations, at a cost of $250 million. (CNN) - Bed Bath & Beyond revealed the locations of 37 of the approximately 200 stores it plans close in the coming weeks.
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