Bed Bath & Beyond plans to shutter hundreds of stores, according to an announcement made this week.
The retailer, amid layoffs and talks of filing for bankruptcy protection, will close 120 stores: 62 newly announced stores, in addition to the 56 previously announced in September. Bed Bath & Beyond also operates buybuy Baby stores, six of which will close, and Harmon, which will close two stores.
According to USA TODAY, the company said it was on track to cut $500 million in costs in its third-quarter fiscal report, which revealed a net sales decline of 33% to $1.26 billion over the prior year on $393 million in losses.
The decline in net sales versus last year was driven by "lower customer traffic and reduced levels of inventory availability, among other factors," the company said in a public notice of late filing last week to the U.S. Securities and Exchange Commission.
The retailer expressed uncertainty of its fate, adding that the company faces "substantial doubt" about its ability to continue operating on its own.
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Bed Bath & Beyond stores closing in Ohio
Ohio is one of more than 30 states, plus Puerto Rico, that will be impacted by store closures. Here are the Bed Bath & Beyond stores expected to close in Ohio:
- Cincinnati: 3681 Stone Creek Blvd.
- Hamilton: Bridgewater Falls, 3451 Princeton Road.
- Huber Heights: North Heights Plaza, 8284 Old Troy Pike Road.
- Perrysburg: 10027 Fremont Pike.
- Strongsville: 16700 Royalton Road.
- Sandusky: 4020 Milan Road, Unit #910.
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