Bed Bath and Beyond Announces 56 Store Closings – Are Indiana and Kentucky Stores on the List?
Like so many brick-and-mortar stores, the rise of online shopping has hit Bed, Bath, & Beyond pretty hard over the past few years. Additionally, the pandemic didn't do them any favors either. According to CNBC, the company has "put up quarter after quarter of declining sales and burned through cash" as it tried to draw customers back with store remodels and private brands instead of the national brands it once carried in its early days and were initially drew customers to them in the first place. In an effort to try and keep the ship from completely sinking, for lack of a better term, the company announced on Wednesday it will be shutting down 56 stores across the country.
Are Any Indiana and Kentucky Bed Bath & Beyond Stores Closing?
The company announced in August it would be closing stores, but did not specify which ones at the time. It also cut 20% of its workforce, according to CNBC, including positions at the corporate level and supply chain staff.
The company operates 11 stores in Indiana and seven in Kentucky. Fortunately, for those who work at those locations and residents in those areas who shop there, none of the 18 total locations were on the list of closings the company released on Thursday, which is obviously good news. However, that doesn't mean they're completely safe.
Bed Bath & Beyond Looks to Close Roughly 150 Locations Total
The 56 closings announced Thursday are only the first wave of stores the company plans to close, and the timeline for closing the remaining 100 or so stores has not been announced by the company. So, while the Indiana and Kentucky locations survived this round, it's yet to be seen if they'll continue to survive.