Bath Bath & Beyond closes still 150 other stores
The retailer plans to reduce his store footprint by half.
Bath Bath & Beyond is still afraid - and he tries to Keep business And run. The retailer has been having trouble since last summer , when he confirmed the closure of 150 " lower Bed Bath & Beyond Banner Stores. "This list increased in the following months - and according to a press release on February 7, Bed Bath & Beyond now wants Fingerprint Up to only 480 stores. To reach this issue, which is a striking contrast From February 2022 plans, the company still closes 150 stores nationwide. Read the rest to find out more about the last batch of closures.
Read this then: Clothing retailers, including Marshalls, close stores .
About 80% of American states will lose a store.
Bath Bath & Beyond released a Update list Stores that should close, which are under the bed bath and beyond and Buybuy Baby Banners. The 150 stores are "down", according to a February 6 regulatory deposit With the Securities and Exchange Commission of the United States (dry). AE0FCC31AE342FD3A1346EBB1F342FCB
The closures are widespread, sparing few states. According to the document, nearly 40 states will be affected, with closures in Connecticut, Maryland, California, Michigan, Pennsylvania, Florida, Ohio, Illinois, Virginia, Georgia, Massachusetts, Le Missouri, Texas, Minnesota, Kansas, Tennessee, Washington, Wisconsin, Oklahoma, Iowa, New York, New Jersey, Louisiana, South Caroline, Colorado, North Carolina, Oregon, Alabama, Arkansas, Utah, New -Mexic, Arizona, Virginie-Western, Indiana, Maine, Montana, Idaho and New Hampshire.
The list does not note when the stores are closed, or if the stores have already been closed. Better life Has hand at Bed Bath & Beyond to comment on the closures, but has not yet heard.
Bath Bath & Beyond cuts his store footprint in two.
These overdraft stores are added to the closures that have already been announced in recent months.
THE first round Closures included 120 Bath & Beyond and Buybuy Baby Stores beds, according to an updated list on January 30. at just over 250 locations.
With the 150 stores now on blocking, the total closure of the large store reaches 400, or almost half of the 955 estimated stores opened a year ago. According to the dry file, all of this is part of Bed Bath & Beyond " Current store fleet optimization program . ""
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The Harmon brand is entirely annihilated.
As a component of the optimization program, Bed Bath & Beyond removes Harmon pharmacies, which mainly sell health and beauty products. As of January 30, around 50 stores remained in six states, operating under the facial values or the banners of Harmon facial values - and once these stores have come out, the Harmon brand will no longer be.
The Harmon website is no longer active, with a declaration on the bed bed and beyond the site thank customers And confirming the closures.
"Unfortunately, we made the decision difficult to close our Harmon stores," said the announcement. "You can search for your favorite products in Select Bed Bath & Beyond Stores or on Bedbathandbeyond.com."
The retailer obtained funding.
On January 5, Bed Bath & Beyond said that he had it " substantial doubt "It could remain in activity, warning of a potential bankruptcy deposit of chapter 11. CNN also indicated that the company had been lacking on a loan - and according to the deposit of February 6, things are still not superb, Because it expects sales to expect to be down 30 to 40% in the first quarter.
However, the latest ad from Bed Bath & Beyond coincided with the news that it also obtained a billion dollars in funding to help Bankruptcy fears remotely ,, Wall Street's journal reported. The retailer hopes that funding - in addition to $ 100 million in lenders - will maintain business for the moment.
Before the announcement of funding, the experts said they were not sure of the future of Bed Bath & Beyond. January 30, Yahoo Finance Live Anchor Brian Sozzi called Bath Bath & Beyond A " zombie retailer , "Which means that buyers can always go to stores, but they don't have much to choose. This limited inventory damages the company's relationship with customers, which is (obviously) a crucial component of its commercial model.
"If the consumer does not think that there is value to spend time there, or put gas in the tank and spend all this gas on your trip to the bath and beyond, or even to enter into The store, so it continues with Bed Bath and beyond difficulty moving the product they have in store, "Yahoo Finance Live Anchor Brad Smith Added.
