![]() ![]() 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. 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. Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy.
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