Bed Bath & Beyond is closing about 150 stores and laying off employees.
Sales fell about 26% in the second quarter, and it’s aggressively cutting costs.
It has now designated 56 stores in 21 states to be closed. List can be seen below
Bed Bath & Beyond is closing about 150 “less-productive” stores across the US as it attempts to cut costs amid declining sales, it announced in late August.
The retailer also said it plans to cut about 20% of corporate and supply-chain employees. By laying off employees and closing stores, the company said it planned to reduce costs by $250 million in 2022.
Sales in the second quarter fell nearly 26% compared to the same period in 2021, Bed Bath & Beyond said in preliminary earnings results.
The city’s medical examiner said that just days after the company was announced, then-CFO Gustavo Arenal died by suicide in New York.
Sources told The Wall Street Journal that Arnell had discussed taking a break and that the company’s CEO and several board members agreed that Arnell was overwhelmed.
Shortly before his death, Arnelle, Bed Bath & Beyond, JPMorgan, and activist investor Ryan Cohen, and JPMorgan were named in a class-action lawsuit that charged them with securities fraud, insider trading, and fiduciary duty. violation was alleged.
Bed Bath & Beyond has appointed Laura Crosson as interim CFO. The chain had already changed its CEO in June after reports of disappointing sales.
The struggling retailer has now revealed the closure of 56 stores spread across 21 states and Puerto Rico. Eight are in California and six are in Illinois. Some are in standalone stores, while others are located in malls.
Here is the complete list so far.
Phoenix: 34750 N. North Valley Parkway, 85086
Tucson: 5225 South Calle, Santa Cruz, 85706
Burbank: 201 East Magnolia Blvd, 91501
Lakewood: 75 Lakewood Center Mall, 90712
Larkspur: 2601 Larkspur Landing Circle, 94939
Marina: 117 General Stillwell Drive, 93933
Palmdale: 39421 10th Street West, 93551
to red: 1140 Hilltop Drive, 96003
St. Leander: 15555 East 14th Street, Suite 240, 94578
Santi: 9918 Mission Gorge Road, 92071
Stamford: Ridgeway Shopping Center, 2275 Summer Street, 06905
Waterford: 850 Hartford Turnpike, 06385
Sanford: 111 Town Center Blvd., 32771
Sunrise: 12801 W. Sunrise Blvd., Anchor C, 33323
Snellville: Presidential Market Center, Suite 5000, 1905 Scenic Highway, 30078
listen: 2623 Peachtree Pucca, 30024
Dubuque: 2475 NW Artery, 52002
Waterloo: 1522 Flamang Drive, 50702
Bourbonnese: 2056 North State Route 50, 60914
Carbondale: Carbondale University Mall, 1265 E. Main Street, 62901
Fairview Heights: Fairview Center, 6611 N. Illinois, 62208
Gurney: Gurney Mills Mall, 6132 Grand Ave, 60031″
Juliet: 2850 Plainfield Road, 60435
Schomberg: 915 East Golf Road, 60173
Bossier City: 2900 Meadow Creek Drive, 71111
Dorchester: 8B Allstate Road, Suite 1, 02125
Milford: 230 Fortune Blvd, 01757
Seeconk: 35 Highland Avenue, 02771
Chesterfield: 50551 Waterside Drive, 48051
Farmington Hills: 31075 Orchard Lake Road, 48334
Northville: Northville Retail Center, 17223 Haggerty Road, 48167
Walker: Green Ridge Square, 3410 Alpine Ave NW, 49544
White Lake TWP: 9050 Highland Road, 48386
St. Cloud: 3959 Second Street South, 56301
Charlotte: Arboretum, 3413 Pineville-Matthews Road, 28226
Flanders: 30 International Drive, Suite 1,07836
get over: 13 Route 9 South, 07726
Paramus: 34 E Ridgewood Avenue, 07652
the spark: 195 Los Altos Pucca, 89436
Farmingdale: 251 Airport Plaza Blvd., 11735
Middletown: 470 Route 211 East, Suite 3, 10940
Mount Vernon: 500 East Sandford Blvd., 10550
New Hartford: 4805 Commercial Drive, 13413
Plattsburgh: 73 Center Drive, Suite 100, 12901
Cincinnati: 3681 Stone Creek Blvd, 45251
Hamilton: Bridgewater Falls, 3451 Princeton Road, 45011
Parisburg: 10027 Fremont Pike, 43551
Sandusky: 4020 Milan Road, Unit 910, 44870
Beaverton: 2780 SW Cedar Hills Blvd., 97005
Wynwood: 70 AD. Wynwood Blvd., 19096
Bymon: Plaza Del Sol, 725 West Main Avenue, 00961
Port Arthur: Central Mall, 3100 Hwy 365, Suite 114, 77642
Wichita Falls: 3201 Lawrence Road, Suite A, 76308
Christiansburg: 135 Shoppers Way NW, 24073
Leesburg: 532 Fort Evans Road, 20176
Lakewood: 5830 Lakewood Towne Center Blvd, SW, 98499
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