![]() ![]() The closings not only reduced employee head count and salary expenses, but also the rent it pays. ![]() The retailer started making small trims in 2018 and, in the first year of the pandemic, started closing hundreds of stores, primarily its Bed, Bath and Beyond operations, and getting rid of some of its weaker brands, such as its Christmas Tree Shops.Īs of last February, the company had 953 stores left, and it has announced plans to close more than 200 additional stores since then. Bed Bath grew its corporate footprint aggressively, peaking at 1,552 stores in 2017.īut it struggled to make the transition to online shopping and to fend off larger chains like Walmart and Target. The retailer became known for its ubiquitous 20% off blue coupons, and cavernous stores with merchandise stacked high to the ceilings. 1.”įounded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. However, the Wall Street Journal reported Bed Bath and Beyond “failed to pay more than $28 million on three tranches of notes totaling roughly $1.2 billion due on Feb. The spokesperson did not confirm the amount Bed Bath and Beyond owes. “We are committed to updating all stakeholders on our plans as they develop and finalize,” the spokesperson said. Debtors will often have a 30-day grace period to make payments before they enter default. “This store fleet reduction expands the company’s ongoing closure program.”Ī company spokesperson also confirmed Wednesday night that it missed a bond payment on February 1, and that it entered a month-long grace period. “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 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. These closures are in addition to the 150 closures Bed Bath and Beyond announced last August. Subscribe to The 4Front newsletter for more stories that keep you at the forefront of today's world.Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. "While the commencement of a full chain wind-down is necessitated by economic realities, Bed Bath & Beyond has and will continue to market their businesses as a going-concern, including the Buybuy Baby business," the company's chief financial officer and chief restructuring officer Holly Etlin wrote in a Sunday declaration to New Jersey's bankruptcy court. The retailer said it will start an orderly wind-down of its operations but will continue to seek a buyer for all or some of its businesses. When Will Bed Bath & Beyond Close?įor the time being, all 360 Bed Bath & Beyond stores and 120 Buybuy Baby locations will remain open for customers. ![]() Merchandise credits can be used through May 8. Items bought before April 26 can be returned until May 24. The company said they expect that gift cards will continue to be accepted through May 8. Deadline to Use Bed Bath & Beyond and BuyBuy Baby Gift Cards ![]() Welcome Rewards points can be redeemed until May 15. 90 people become US citizens on the Fourth of July at Mount Vernon ceremony ![]()
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