6001 24 Argyle Forest Blvd in Jacksonville, Florida.14824 South Military Trail in Delray Beach, Florida.20560 State Road 7 in Boca Raton, Florida. 2239 East Semoran Blvd in Apopka, Florida.1065 Silas Deane Highway in Weathersfield, Connecticut.835 Queen Street in Southington, Connecticut.2260 Kings Highway in Fairfield, Connecticut.20 Hazard Avenue in Enfield, Connecticut.16531 Washington Street in Thornton, Colorado.1605 Fall River Drive in Loveland, Colorado.1865 North Campus Avenue, Building #15 in Upland, California.10537 4S Commons Drive, Suite 170 in San Diego, California.72459 Highway 111 in Palm Desert, California.14351 Hindry Avenue in Hawthorne, California.1405 East Gladstone Street in Glendora, California.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.These are the locations Bed Bath and Beyond plans to close in the coming weeks: It could be forced to file for Chapter 11 bankruptcy reorganization due to its financial woes. The company said that “at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code.”īed Bath and Beyond defaulted “on or around” January 13, according to the Securities and Exchange Commission filing. Last week, the company warned in a regulatory filing that it received a notice of default from its lender, JPMorgan Chase. 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.
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