Bed Bath and Beyond is struggling to keep staff leaving before their store closes and has been forced to offer bonuses.
New York's retail industry faces enormous challenges as chains continue to announce store closures. Major chains are closing their stores across the state as their customers move to online shopping.
Now they are facing another issue- staff quitting before the store closes.
Let's take a look at this developing story.
Bed Bath & Beyond stores in New York closing in 2023
416 Bed Bath & Beyond-owned stores in the U.S. will close in 2023 due to financial issues. Twenty-six of these are in New York.
- Middletown: 470 Route 211 East, Suite 3
- Mt. Vernon: 500 East Sandford Blvd.
- New Hartford: 4805 Commercial Drive
- Kingston: 1187 Ulster Ave.
- Plattsburgh: 73 Centre Drive, Suite 100
- Farmingdale: 251 Airport Plaza Blvd.
- Ithaca: 131 Fairgrounds Memorial Parkway, Suite 100
- Staten Island: 2795 Richmond Ave.
- Brooklyn: 459 Gateway Drive
- Brooklyn: 850 Third Avenue
- Elmsford: 251 East Main Street
- East Elmhurst: 72 15 25th Avenue
- Saratoga Springs: 3064 Route 50
- Poughkeepsie: 2020 South Road, Suite 3
- Bohemia: 5131 Sunrise Highway
- New Hyde Park: 1490 Union Turnpike
- DeWitt: 3409 Erie Blvd. East
- Amherst: 1583 Niagara Falls Blvd.
- New York: 1932 Broadway
- East Northport: 3083 Jericho Turnpike
- Newburgh: 1399 Route #300
- West Babylon: 825 West Montauk Highway
- Henrietta: 720 Jefferson Road
- New York: 97 Warren St
- Victor: 20 Square Dr.
- New York: 460 3rd Ave
Harmons is owned by Bed Bath & Beyond, and they are also closing stores, including fifteen in New York.
- Massapequa: 806 Hicksville Road
- Melville: 925 Walt Whitman Road, Route 110
- New Rochelle: 77 Quaker Ridge Road
- Plainview: 1119 Old Country Road
- Hartsdale: 165-171 Central Park Avenue
- Yonkers: 2131 Central Park Avenue
- Mineola: 530 Jericho Turnpike
- Poughkeepsie: 2600 South Road
- Nanuet: 46 Rockland Plaza / Route 59
- Carle Place: Carle Place Commons 167 Old Country Road
- Commack: 8 Veterans Memorial Highway
- New York: 675 6th Avenue
- New York: 2171 Broadway
- Brooklyn: 850 Third Ave.
- Brooklyn: 245 Atlantic Ave.
BuyBabyBuy is also owned by Bed Bath & Beyond, and they are closing stores, including three in New York.
- Rochester: 790 Jefferson Rd., Suite 300
- Port Chester: 441 Boston Post Road
- Brooklyn: 850 Third Ave.
No closing date for the stores was announced, which has led to uncertainty for staff who will be losing their jobs.
There has been little incentive for staff to continue to work at one of the stores set to close, as Bed Bath & Beyond is not offering severance payments. Therefore staff in many stores quit before their store's liquidation process was complete.
To try and combat this move, Bed Bath and Beyond are now offering bonuses for staff who stay with the stores until they officially close for good.
The bonuses are reputed to be:
- $500 for hourly workers
- $1,000 for supervisors
- $1,750 for assistant managers
- $2,250 for store managers
One Bed Bath and Beyond employee told Insider:
"I don't think it was out of the goodness of their heart. They were losing a lot of people."
However, it remains to be seen whether these new bonus payments will be enough to incentivize staff to stay or if they will continue to quit to find new jobs. On Thursday, in a filing to the U.S. Securities Exchange Commission Thursday, the business admitted challenges with retaining store personnel posed a material risk to its business.
For the latest list of all stores closing in New York, please check out this article. To keep up to date with the latest retail and business developments, make sure to follow me.
Should workers who lose their job due to store closures be given bonuses? Do you believe Bed Bath and Beyond made a wrong decision by not offering severance payments? Are you concerned about the number of retail stores closing in New York? Should the government provide financial support for struggling retail businesses or laid-off workers?
Please leave your thoughts in the comment section below and share this article on social media and with others so more people can join the discussion.
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