Bed Bath & Beyond releases preliminary list of store closings

FAN Editor

Bed Bath & Beyond on Thursday released a preliminary list of 56 stores that will close as part of the company’s turnaround plan announced last month. 

Under the plan, the home goods retailer said it would close a total of 150 “lower-producing” stores. The company said it would also cut 20% of its workforce across corporate and supply chain, discontinue three of its nine Owned Brand labels, reduce the inventory of its remaining Owned Brands and bring back national brands including Calphalon, Ugg, Cuisinart, Dyson and Oxo.

Ticker Security Last Change Change %
BBBY BED BATH & BEYOND INC. 8.79 +0.03 +0.34%

Below is the full list of affected store locations by state. A Bed Bath & Beyond spokesperson did not immediately return FOX Business’ request for comment on when the listed store closings would happen. 

BED BATH & BEYOND INTERIM CEO TO SAY IN POST FOR AT LEAST A YEAR – SOURCE

Arizona

– Phoenix: 34750 N. North Valley Parkway

– Tucson: 5225 South Calle Santa Cruz

California

– Burbank: 201 East Magnolia Blvd.

– Lakewood: 75 Lakewood Center Mall

– Larkspur: 2601 Larkspur Landing Circle

– Marina: 117 General Stilwell Drive

– Palmdale: 39421 10th Street West

– Redding: 1140 Hilltop Drive

– San Leandro: 15555 East 14th Street, Suite 240

– Santee: 9918 Mission Gorge Road

Connecticut

– Stamford: Ridgeway Shopping Center, 2275 Summer Street

– Waterford: 850 Hartford Turnpike

Florida

– Sanford: 111 Towne Center Blvd.

– Sunrise: 12801 W. Sunrise Blvd., Anchor C

Georgia

– Snellville: Presidential Market Center, 1905 Scenic Hwy Suite 5000

– Suwanee: 2623 Peachtree Pkwy

BED BATH & BEYOND HAD CONCERNS ABOUT CFO’S STRESS LEVEL

Illinois

– Bourbonnais: 2056 North State Route 50

– Carbondale: University Mall, 1265 E. Main Street

– Fairview Heights: Fairview Center, 6611 N. Illinois

– Gurnee: 6132 Grand Ave., Gurnee Mills Mall

– Joliet: 2850 Plainfield Road

– Schaumburg: 915 East Golf Road

Iowa

– Dubuque: 2475 N.W. Arterial

– Waterloo: 1522 Flammang Drive

Louisiana

– Bossier City: 2900 Meadow Creek Drive

Massachusetts

– Dorchester: 8B Allstate Road, Suite 1

– Milford: 230 Fortune Boulevard

– Seekonk: 35 Highland Avenue

BED BATH & BEYOND APPOINTS INTERIM CFO

Michigan

– Chesterfield: 50551 Waterside Drive

– Farmington Hills: 31075 Orchard Lake Road

– Northville: Northville Retail Center, 17223 Haggerty Road

– Walker: Green Ridge Square, 3410 Alpine Avenue NW

– White Lake Twp.: 9050 Highland Road

Minnesota

– St. Cloud: 3959 Second Street South

New Jersey

– Flanders: 30 International Drive, Suite 1

– Manalapan: 13 Route 9 South

– Paramus: 34 E Ridgewood Ave

New York

– Farmingdale: 251 Airport Plaza Blvd.

– Middletown: 470 Route 211 East, Suite 3

– Mt. Vernon: 500 East Sandford Blvd.

– New Hartford: 4805 Commercial Drive

– Plattsburgh: 73 Centre Drive, Suite 100

Nevada

– Sparks: 195 Los Altos Pkwy

North Carolina

– Charlotte: The Arboretum, 3413 Pineville-Matthews Road

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Ohio

– Cincinnati: 3681 Stone Creek Blvd.

– Hamilton: Bridgewater Falls, 3451 Princeton Road

– Perrysburg: 10027 Fremont Pike

– Sandusky: 4020 Milan Road Unit# 910

Oregon

– Beaverton: 2780 SW Cedar Hills Blvd.

Pennsylvania

– Wynnewood: 70 E. Wynnewood Boulevard

Puerto Rico:

– Bayamon Plaza Del Sol, 725 West Main Avenue

Texas

– Port Arthur: Central Mall 3100 Highway 365 Suite 114

– Wichita Falls: 3201 Lawrence Road Suite A

Virginia

– Christiansburg: 135 Shoppers Way NW

– Leesburg: 532 Fort Evans Road

Washington

– Lakewood: 5830 Lakewood Towne Center Blvd., S.W.

CLICK HERE TO READ MORE ON FOX BUSINESS

Bed Bath & Beyond’s actions are expected to reduce selling, general and administrative expenses by approximately $250 million in fiscal 2022. The company anticipates $250 million in planned capital expenditures for fiscal 2022, compared to its previously disclosed forecast of $400 million.

The company has also secured $500 million in new financing, including a newly expanded $1.13 billion asset-backed revolving credit facility and a new $375 million “first-in-last-out” facility. 

Additionally, the company said in a regulatory filing that it could potentially launch an at-the-market offering for up to 12 million shares of its common stock. The proceeds would be used for several corporate purposes, including repurchasing or repaying some of the company’s debt.

Free America Network Articles

Leave a Reply

Next Post

Why a medical exam may required for life insurance

Many life insurance companies will want the results of a medical exam before approving your application. Getty Images Life insurance provides financial protection for you and your loved ones in the event of your death. By making a payment to the insurance company each month, depending on your billing schedule, […]