Struggling Bed Bath & Beyond closing 150 more stores
NEW YORK (AP) — Bed Bath & Beyond says it will be shuttering 150 more stores as the beleaguered home goods chain to cut costs as it works to stave off a bankruptcy.
The news came as the chain has been reducing its footprint dramatically over the past year.
According to a regulatory filing, it will have shuttered more than 400 stores, nearly half of its fleet. That includes the remaining 50 standalone Harmon Face Value Stores, which sells beauty and household products.
The company said it anticipates to keep 360 of its namesake stores in addition to 120 BuyBuy Baby stores. The Union, New Jersey, company said it had raised about $1 billion through offerings of preferred stock and warrants to purchase the company’s common stock.
For the full list of stores closing across the country, including the ones in Montgomery and Opelika, click here.
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