Bed Bath & Beyond will close 56 stores by the end of 2022.
Bed Bath & Beyond is moving ahead with one part of its newest turnaround effort.
The embattled home goods retailer posted a list of 56 stores it plans to shutter by the end of 2022. In August, Bed Bath & Beyond unveiled a plan to turn around its ailing business which included closing about 150 of its “lower producing” namesake stores, staff reductions and a merchandising overhaul. The company also announced it had secured $500 million in new financing.
The stores in the first round of closings are located throughout the United States, and also include one location in Puerto Rico. The list of the closings can be found here.
Bed Bath & Beyond is no stranger to store closings. In July 2020, it announced plans to close about 200 stores during the next two years.
As of May 29, 2021, the company had a total of 1,004 stores, including 818 Bed Bath & Beyond stores, 132 Buybuy Baby stores and 54 stores under the names Harmon, Harmon Face Values or Face Values. As of May 28, 2022, it was down to 955 stores, including 769 namesake stores, 135 Buybuy Baby stores and 51 stores under the various Harmon banners.
Bed Bath & Beyond is currently on the hunt for a CEO to replace Mark Tritton, who was let go in June in the wake of a disastrous first quarter. Earlier this month, its CFO died by suicide.