Bed bath & beyond brick township12/23/2023 ![]() ![]() The recent wave of closures comes shortly after the company said it had secured a deal with Hudson Bay Capital Management to raise $1 billion in funding to stave off bankruptcy. Sue Gove, the president and chief executive officer, announced plans to adjust executive leadership and close approximately 150 stores to embrace a “straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth and delivering business returns." In August 2022, the retail giant showed signs of significant financial struggle. ![]() ![]() “In response to evolving shopping preferences today, this target store base includes the company’s most profitable locations and best geographic presence for customers that can enable an optimal omni-experience,” Bed Bath & Beyond said in a statement to. With the additional 150 shuttered locations, Bed Bath & Beyond’s brick-and-mortar presence has been reduced by nearly half. This news comes just one week after the retail giant announced it was shuttering 87 Bed Bath & Beyond stores, along with five buybuy Baby locations and and all remaining Harmon Face Value stores. Bed Bath & Beyond is closing 150 more stores across the country. ![]()
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