![]() ![]() Bed Bath & Beyond held talks in recent days with an investment firm to underwrite a significant portion of the proposed offering, according to Reuters.īed Bath and Beyond has been part of the meme stock phenomenon, with shares skyrocketing as much as 400% last year when activist investor and GameStop chairman Ryan Cohen took a stake and sought changes. The chain has said in recent weeks that it had defaulted on a loan and may not be able to remain in business, raising concerns about its future. As of February 26, 2022, Bed Bath & Beyond operated 953 stores worldwide, down from 1,020 stores operated a year earlier. If it can't complete the complex transaction, it would "likely file for bankruptcy protection." It also appointed Holly Etlin, a bankruptcy expert, as interim chief financial officer. Published by Statista Research Department, Jul 27, 2022. The company also said Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants in a last-ditch effort to stave off bankruptcy. In this latest round of Bed Bath closures, New York will lose seven stores, five California stores will close and four Washington state locations. Locations in Dorchester, Milford and Seekonk closed in recent months as part of a round of closures announced back in August.Ī turnaround doesn't look imminent: The embattled home goods chain forecasts first quarter sales to be down by 30% to 40% with "sequential, quarterly sales improvement thereafter" the filing said. Bed Bath & Beyond stores closing list 2022. 'Short of a miracle in the form of a sale of. 31, 2021, to Mondays closing price of 2.87. Not all retail is dead, but the big box stores take up so much space and are closing. There are 17 Bed Bath & Beyond stores currently open in Massachusetts. Shares in Bed Bath & Beyond have fallen about 82 during the past 12 months, dropping from 16.24 on Jan. I think their point is that massive, obsolete stores, mostly full of junk (i.e., Bed Bath and Beyond) are dead. That includes last week's announcement that it was also closing all 49 remaining Harmon Face Value stores, which sold cosmetics plus 5 buybuy Baby locations. The company's brick-and-mortar footprint has already shrunk dramatically, a regulatory filing showed late Monday, and the new closings mean it will have shuttered 400 stores in the past year - almost half the 950 or so stores it had open in February 2022. Last week, Bed Bath & Beyond stores in Burlington, Dedham, North Dartmouth, Raynham and Pittsfield all appeared on a 2023 closings list. There was no immediate word on where the new store closures would be. The news comes just a week after the struggling retailer announced the closure of 87 locations, including five in Massachusetts. More Bed Bath & Beyond stores closing in Massachusetts 00:24īed Bath & Beyond is closing 150 more stores. ![]()
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