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.Still, for a cash-starved company, like Bed, Bath and Beyond, the liquidation of inventory can help to raise the cash it needs to help fund operations through a reorganization. Closings not only reduce costs, they reduces sales. The company’s total store square footage fell by 36% in the four fiscal years ending in February in 2022.īut few troubled retailers have turned around long-term problems through store closings alone. 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.
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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. And if you’re intrigued by a possible sale, go directly to the retailer’s website.Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy.
Bartholomy says if you use your credit card, you’re protected and can report the fraudulent charge, but you’re out of luck if you use your debit card, a prepaid card or a cash app like Venmo or Zelle for the fake purchase.īartholomy recommends staying away from pop-up ads on social media. “Then you check back on that website, but it doesn’t exist anymore.”Īfter months of waiting, shoppers realize their package will never arrive. “If you put in your credit card or debit card, whatever payment method that you’re using, and then you just wait, you don’t hear anything back” he said. BBB President and CEO Tom Bartholomy says once they go to the website, it looks official with the company’s logo, but the URL could be off by just one letter.
The Better Business Bureau says it has received several reports from customers clicking on ads that pop up on social media. Impostors have created fake websites similar to the new site, luring shoppers with extremely low pricesĪfter the company filed for bankruptcy, purchased it and rebranded 's website to become.The online retailer rebranded its website, making Bed Bath & Beyond an online-only store now.bought Bed Bath & Beyond this summer after the home goods chain closed all its brick-and-mortar stores in July.
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