Popular housewares retailer Bed Bath & Beyond continues to close stores across the country.
Last September, they announced 56 stores to be closed. This week an additional 62 new Bed Bath & Beyond closures were across the United States. Of these four are located in Texas, and one of these four has already closed.
Texas Store Closures
- Wichita Falls: 3201 Lawrence Road, Suite A
- Lake Worth: 6038 Azle Ave.
- Port Arthur: Central Mall 3100 Highway 365 Suite 114
- Harker Heights: 201 East Central Texas Expressway Suite 250
There will be 55 stores remaining in Texas following these closures.
Beyond problems
Bed Bath & Beyond has been besieged with issues of late and has undergone a range of cost-cutting measures as it borders close to bankruptcy, and on Tuesday, they began laying off employees.
According to a report in Business Insider:
The retailer reported bigger-than-expected losses in the fiscal third quarter, and nearly half of Bed Bath & Beyond's products are currently out of stock as it struggles with supply chain challenges with its private label brands and issues paying its suppliers.
Interestingly despite the news, shares in Bed Bath & Beyond Inc. continued to surge today, closing at the highest level since late October after the company’s bankruptcy warning reignited interest from retail traders.
Your thoughts
Are you concerned with the state of Bed, Bath & Beyond? Do you shop there? Do any of the store closures affect you?
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