Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy.
WRAL News
By Jordan Valinsky, CNN Business
Posted
Updated
The closing stores are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list is 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which once sold cosmetics.
"As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible," a Bed Bath and Beyond spokesperson told CNN. "This store fleet reduction expands the company's ongoing closure program."
Last week, the company warned in a regulatory filing that it received a notice of default from its lender, JPMorgan Chase. The company said that "at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code."
Bed Bath and Beyond defaulted "on or around" January 13, according to the Securities and Exchange Commission filing. It could be forced to file for Chapter 11 bankruptcy reorganization due to its financial woes.
Founded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. The retailer became known for its ubiquitous 20% off blue coupons, and cavernous stores with merchandise stacked high to the ceilings.
But the company struggled to make the transition to online shopping and fend off larger chains, such as Walmart and Target. Many shoppers switched to those competitors as the novelty of Bed Bath and Beyond's coupons faded -- consumers can find plenty of cheaper alternatives on Amazon and other online sites.
These are the locations Bed Bath and Beyond plans to close in the coming weeks:
6850 US Highway 90 Anchor D in Daphne, Alabama
4122 McCain Blvd. in North Little Rock, Arkansas
1834 South Signal Butte Road in Mesa, Arizona
1905 Calle Barcelona Suite 100 in Carlsbad, California
10822 Jefferson Blvd. in Culver City, California
2385 Iron Point Road. in Folsom, California
1405 East Gladstone Street in Glendora, California
14351 Hindry Avenue in Hawthorne, California
72459 Highway 111 in Palm Desert, California
10537 4S Commons Drive, Suite 170 in San Diego, California1
65 S. Las Posas Road in San Marcos, California
1865 North Campus Avenue, Building #15 in Upland, California
3125 South Mooney Blvd. in Visalia, California
1605 Fall River Drive in Loveland, Colorado
16531 Washington Street in Thornton, Colorado
20 Hazard Avenue in Enfield, Connecticut
2260 Kings Highway in Fairfield, Connecticut
835 Queen Street in Southington, Connecticut
1065 Silas Deane Highway in Weathersfield, Connecticut
2239 East Semoran Blvd in Apopka, Florida
20560 State Road 7 in Boca Raton, Florida
371 North Congress Ave. in Boynton Beach, Florida
320 Brandon Town Center Dr. in Brandon, Florida
4631 North University Dr. in Coral Springs, Florida
14824 South Military Trail in Delray Beach, Florida
1460 West 49th St. in Hialeah, Florida
6001 24 Argyle Forest Blvd in Jacksonville, Florida
3221 City Station Drive, Suite 125 in Jacksonville, Florida
397 North Alafaya Trail in Orlando, Florida
540 North State Road 7 in Royal Palm Beach, Florida
1 Buckhead Loop in Atlanta, Georgia
3615 South Federal Way in Boise, Idaho
9650 South Ridgeland Avenue in Chicago Ridge, Illinois
5786 Northwest Highway in Crystal Lake, Illinois
215 Harlem Avenue in Forest Park, Illinois
1584 South Randall Rd. in Geneva, Illinois
3232 Lake Ave., Suite 125 in Wilmette, Illinois
2515 Corridor Way Suite 5 in Coralville, Iowa
15335 West 119th Street in Olathe, Kansas
4350 Summit Plaza Drive in Louisville, Kentucky
200 Harker Place Suite 200 in Annapolis, Maryland
12641 Ocean Gateway Suite 240 in Ocean City, Maryland
200 Clifton Blvd in Westminster, Maryland
3 Abbott Park in Burlington, Massachusetts
820 Providence Highway in Dedham, Massachusetts
458 State Road, Rt 6, Suite 100 in North Dartmouth, Massachusetts
665 Merrill Road in Pittsfield, Massachusetts
600 South Street West, Suite 13 in Raynham, Massachusetts
7961 Southtown Center in Bloomington, Minnesota
10770 Sunset Hills Plaza in St. Louis, Missouri
155 Promenade Blvd. in Bridgewater, New Jersey
276 Route 202/31 in Flemington, New Jersey
1160 Route 23 North in Kinnelon, New Jersey
1121 Highway 34, Suite A in Matawan, New Jersey
190 Hamilton Commons in Mays Landing, New Jersey
8 Centerton Road in Mt. Laurel, New Jersey
5131 Sunrise Highway in Bohemia, New York
850 Third Avenue in Brooklyn, New York
459 Gateway Drive in Brooklyn, New York
72 15 25th Avenue in East Elmhurst, New York
251 East Main Street in Elmsford, New York
1490 Union Turnpike in New Hyde Park, New York
2020 South Road, Suite 3 in Poughkeepsie, New York
3064 Route 50 in Saratoga Springs, New York
1455 East Lasalle Drive in Bismarck, North Dakota
3750 Easton Market in Columbus, Ohio
1700 Oxford Drive in Bethel Park, Pennsylvania
3739 William Penn Highway in Monroeville, Pennsylvania
1261 Knapp Road in North Wales, Pennsylvania
160 Quinn Drive in Pittsburgh, Pennsylvania
205 West Blackstock Road in Spartanburg, South Carolina
5523 Highway 153, Suite 112 in Hixson, Tennessee
870 South White Station Road in Memphis, Tennessee
420 East FM 3040 Suite 300 in Lewisville, Texas
6400 West Plano Parkway, Suite 125 in Plano, Texas
2112 SW HK Dodgen Loop in Temple, Texas
1678 West Redstone Center Drive in Park City, Utah
1324 Greenbrier Parkway in Chesapeake, Virginia
24670 Dulles Landing Dr Unit 150 in Dulles, Virginia
12100 Fairfax Towne Center in Fairfax, Virginia
6642 Loisdale Rd. in Springfield, Virginia
4900 Monticello Ave, Suite 4 in Williamsburg, Virginia
2540 South Pleasant Valley Road in Winchester, Virginia
7809B Vancouver Plaza Dr #102 in Vancouver, Washington
1630 West Poplar Street in Walla Walla, Washington
395 Target Way in Morgantown, West Virginia
3575 Rib Mountain Drive in Wausau, Wisconsin