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Struggling Bed Bath & Beyond to Close 15 California Stores
Home goods retailer Bed Bath & Beyond continues to downsize, as the financially struggling company has announced the closing of 126 stores, including 15 in California. The company said it’s on track to shutter a total of 150 stores and slash its workforce by 20%. No timetable for the store closures was announced.
In August, Bed Bath & Beyond secured $500 million in financing, and said this week it will likely pursue bankruptcy as part of its recovery strategy. The retailer lost nearly $400 million in the third quarter of 2022, and may have to sell off its baby clothing and furniture brand to stay afloat. In addition to the parent store, the company also owns Buybuy Baby and Harmon Face Values stores.
The California Bed Bath & Beyond locations on the closure list include Chula Vista, Santee, Valencia, Buena Park, La Habra, Lakewood, Burbank, Palmdale, Marina, Antioch, San Leandro, San Jose, Larkspur, Sacramento and Redding.
- ◦Economy
