Bed Bath & Beyond is closing an additional 87 stores, as the troubled home goods retailer seeks to consolidate its assets ahead of a possible bankruptcy filing.
The company confirmed the closures in a statement, adding it was also closing all Harmon health and beauty store locations.
“As we work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” it said, adding that it is analyzing its store footprint “based on a variety of factors.”
Jan. 10, 202301:23
The chain is also closing five buybuy BABY stores. In total, the company has announced 237 store closures since last year.
The latest closures affect stores nationwide; a full list of the latest locations shutting down can be found here.
On Tuesday, Reuters reported Bed Bath & Beyond could file for bankruptcy as soon as this week. Last week, the company said it defaulted on a loan to JP Morgan Chase and Co.
Sources have also told Reuters the company is considering skipping debt payments due Wednesday, a typical move that distressed companies take to conserve cash.
Source: | This article originally belongs to Nbcnews.com
