Bed Bath & Beyond Closing 15 Stores in New York and New Jersey
Bed Bath & Beyond announced this week that it would be closing even more stores in the region after lagging sales have led to possible bankruptcy.
Investors weren't expecting good news during Bed Bath & Beyond's quarterly report, but Tuesday's filing showed that the company is doing even worse than feared. Profits fell by a third, putting the retail chain in a serious freefall that may end in bankruptcy.
In order to course-correct the business, Bed Bath and Beyond announced a few rounds of store closures last year. On the heels of the latest shareholder meeting, the store is adding even more locations to the chopping block.
The company has added 62 Bed Bath &Beyond, buybuy Baby and Harmon locations to the closure list bringing the nationwide total to 120. In New York and New Jersey, there are now 15 stores that are in the process of closing or will be shut down this year.
In August, the retailer announced that it would be shuttering just seven New York locations in Auburn, Canandaigua, Glenmont, Niagra Falls, Plainview, Portchester and Spring Valley. A month later we found out that the Middletown location would also be shuttered, even though it wasn't on the initial list.
Just last month, the Bed Bath & Beyond location in Kingston also announced that it would be closing its doors, causing customers to gather their collection of 20% off coupons and use them before it was too late.
This week we learned the fate of even more of the company's locations throughout the New York and New Jersey area. According to a press release, eight stores in New York and seven in New Jersey are either closing down or will be closed this year.
- Paramus at 34 E Ridgewood Ave
- Flanders at 30 International Drive
- Manalapin at 13 Route 9 South
- Princeton at 601 Nassau Park Blvd.
- Rockaway at 327 Mount Hope Ave.
- Rockaway at 399 Route 46 West
- Parsippany at 3189 Route 46
- Middletown at 470 Route 211
- Mt. Vernon at 500 East Sandford Blvd.
- New Hartford at 4805 Commercial Drive
- Kingston at 1187 Ulster Ave.
- Plattsburgh at 73 Centre Drive
- Farmingdale at 251 Airport Plaza Blvd.
- Ithica at 131 Fairgrounds Memorial Parkway
- Staten Island at 2795 Richmond Ave.
There are two remaining Bed Bath & Beyond locations in the Hudson Valley. Stores in Poughkeepsie and Newburgh are not currently slated to be shut down.