These 56 locations will be closed

After announcing it is closing 150 underperforming stores as part of a turnaround plan, Bed Bath & Beyond (BBBY) has released the first 56 locations it will be closing.

When it announced at the end of August, the housewares retailer also announced that it would lay off around 20% of its workforce as part of a cost-cutting measure. According to the company, the job cuts will have an impact on the supply chain and corporate positions.

The Bed Bath & Beyond revitalization also included a new $500 million financing and the sale of up to 12 million shares.

News of the turnaround plan came just days before the company’s chief financial officer, Gustavo Arnal, 52, committed suicide in New York City.

Arnal has been sued along with the company over allegations that he artificially inflated the company’s stock as part of a “pump and dump” scheme. Bed Bath & Beyond said the claims against the company were “baseless,” Reuters reported.

Bed Bath & Beyond also released a statement following Arnal’s death, saying the company was “deeply saddened by this shocking loss”.

On Thursday, the retailer released a list of the first 56 eponymous stores to close, affecting locations across the United States

Over the past two years, Bed Bath & Beyond has reduced the number of its stores by 35%, falling from 1,478 locations at the end of Q1 2020 to 955 stores at the same time in 2022, according to CNBC.

The Company also operates 135 Buybuy Baby stores and 51 stores under the Harmon, Harmon Face Values ​​and Face Values ​​brands.

The full list of stores closing, according to Bed Bath & Beyond, includes locations in:

  • Stamford, Connecticut
  • Paramus, New Jersey
  • Sunrise, Florida
  • Gurnee, Illinois
  • Schaumburg, Illinois
  • Farmington Hills, Michigan
  • Northville, Michigan
  • Charlotte, North Carolina
  • Wynnewood, Pennsylvania
  • Snellville, Georgia
  • Fairview Heights, Illinois
  • Bayamon, Puerto Rico
  • Flanders, New Jersey
  • Beaverton, Oregon
  • Middleton, New York
  • Mount Vernon, New York
  • Lakewood, Washington
  • Santee, California
  • Redding, California
  • New Hartford, New York
  • Lakewood, California
  • Larkspur, California
  • Waterloo, Iowa
  • Manalapan, New Jersey
  • Dubuque, Iowa
  • Palmdale, California
  • Carbondale, Illinois
  • Plattsburgh, New York
  • Joliet, Illinois
  • Farmingdale, New York
  • Sanford, Fla
  • St. Cloud, Minnesota
  • Hamilton, Ohio
  • San Leandro, California
  • Seekonk, Massachusetts
  • Walker, Michigan
  • Burbank, California
  • Sparks, Nevada
  • Dorchester, Mass
  • Wichita Falls, Texas
  • Port Arthur, Texas
  • Cincinnati, Ohio
  • Milford, Massachusetts
  • Christiansburg, Va
  • Bossier City, Louisiana
  • Chesterfield, Michigan
  • Tucson, Ariz
  • Perrysburg, Ohio
  • Marina, California
  • Phoenix, Ariz
  • Suwannee, Georgia
  • Waterford, Connecticut
  • Bourbonnais, Illinois
  • Leesburg, Va
  • White Lake Twp., Michigan
  • Sandusky, Ohio

As of 1:27 p.m. ET Thursday, shares of Bed Bath & Beyond were trading at $8.97, up 20 cents, or 2.34%.

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Fry Electronics Team

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