Many Bed Bath and Beyond shoppers in Manhattan will have to look elsewhere for their bedding, kitchenware and other home needs — as just one location on the island will remain once the chain’s purge is complete, the company announced this week.
In an effort to avoid bankruptcy, owners of the chain department store will shutter 150 stores nationwide.
A growing list updated Feb. 7 now includes all of Bed Bath & Beyond’s New York City locations except the one at 620 Sixth Ave. in Chelsea. Stores on the Upper West Side and in Kips Bay will also close, according to the list.
In Brooklyn, the Bed Bath & Beyond near Industry City is slated to close, along with its sister shop Harmon. (Late last month, Bed Bath & Beyond confirmed its plans to close all of its Harmon beauty product stores).
The retailer also operates buybuy BABY, which will also close its 850 Third Ave. location in Brooklyn.
In a press release issued this week, Sue Gove, President & CEO of Bed Bath & Beyond Inc. said the the retailer has an ultimate goal of operating approximately 360 stores, in addition to approximately 120 buybuy BABY stores, across the country.
With “evolving shopping preferences” in mind, Gove said the target store base include’s the company’s most profitable locations in the best locations.
“This transformative transaction will provide runway to execute our turnaround plan. We continue to put our customers at the center of every decision, positioning Bed Bath & Beyond to meet and exceed their expectations, while resetting our foundation for near- and long-term success,” Gove said in a statement. “We are optimizing our store fleet and supply chain and continuing to invest in our omni-always capabilities. This will enable us to better serve our customers, and grow profitably, by directing merchandise where and how they want to shop with us.”
“We are also prioritizing availability of leading national and emerging direct-to-consumer brands our customers know and love,” Gove’s statement read on. “As we make important strategic and operational changes, we will continue to take disciplined steps to enhance our cost base and improve our financial position.”
