The beleaguered bedding chain continues to close locations in an effort to stave off bankruptcy.
Author’s Note
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: CNN.com and CBSNews.com.
Introduction
I write extensively about the financially beleaguered Bed Bath & Beyond bedding chain for NewsBreak. My February 2nd article, “Bed Bath & Beyond Announces the Permanent Closure of 87 More Locations, Above the 150 Previously Reported,” is particularly relevant to this current piece due to detailing the previous announcement of upcoming store closures.
My article excerpted a February 1st report from CNN.com, “Bed Bath and Beyond is Closing 87 More Stores. See the List,” that discussed those upcoming closures as atop the 150 previously announced as forthcoming by February’s end.
As excerpted from the report: Included in the new list are 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which sold cosmetics, plus several of the retailer’s flagship-brand stores across the country. “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. “This store fleet reduction expands the company’s ongoing closure program.”
Today, the company has announced yet another spate of closures. This time, another 150 stores are set to be cut.
Let us explore further.
Bed Bath & Beyond, 2023
According to a February 7th report from CBSNews.com, “Bed Bath & Beyond is Closing 150 More Stores,” this new round of closures is over and above those noted in previous announcements.
As excerpted from the report: Bed Bath & Beyond is closing 150 more stores. The news comes just a week after the struggling retailer announced the closure of 87 locations, including five in Massachusetts. There was no immediate word on where the new store closures would be. Last week, Bed Bath & Beyond stores in Burlington, Dedham, North Dartmouth, Raynham and Pittsfield all appeared on a 2023 closings list.
It should be noted the last list of 87 closures included all 49 Harmon‘s Face Value locations, being a subsidiary company to Bed Bath & Beyond.
The report goes on to state: The company's brick-and-mortar footprint has already shrunk dramatically, a regulatory filing showed late Monday, and the new closings mean it will have shuttered 400 stores in the past year — almost half the 950 or so stores it had open in February 2022.
Conclusion
This is a developing story. In the event of pertinent updates to this matter, I will share them here on NewsBreak.
Thank you for reading.
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