Home / Business / Bed Bath & Beyond closes 63 stores, including 2 in New Jersey

Bed Bath & Beyond closes 63 stores, including 2 in New Jersey



Bed Bath & Beyond plans to close two locations in New Jersey as part of 63 stores that are slated to close by the end of this year, the company told USA Today.

The Union-based housewares retailer will close stores in Howell (4075 Route 9) and Rockaway (202 Enterprise Dr.).

In July, Bed Bath & Beyond announced plans to permanently close around 200 stores over the next two years. This announcement appears to be the first iteration of that plan.

The company, which also runs Harmon Face Values, Buybuy Baby, Cost Plus World Market and Christmas Tree Shops, said it has “the right size of its real estate portfolio”

;.

The 200 store closings will mainly be Bed Bath & Beyond stores.

According to its website, there are currently 36 Bed Bath & Beyond stores in New Jersey. The stores in Sewell and Newton have also closed this year.

It was a new year for Bed Bath & Beyond:

The company agreed in February to sell its flowers and gifts e-commerce business, PersonalizationMall.com, for $ 252 million.

– In March it announced plans to cut 500 jobs as part of a restructuring.

– In June, a WARN notice to the New Jersey Department of Labor and Workforce Development showed the company had plans to lay off 148 employees, which went into effect Aug. 22. The city was Union, where the headquarters of Bed Bath & Beyond is located. The company is also reportedly looking to sell its Christmas tree stores and the Cost Plus World Market.

The stationary retail sector had already suffered, but the coronavirus also devastated the chains.

GameStop, New York & Company, Sur La Table, Nordstrom, Lord & Taylor and Justice are among the companies that recently announced store closings.

RELATED STORIES ABOUT RETAIL AND SHOPPING:

Dave & Buster warns of bankruptcy and files layoff notice for 107 workers in New Jersey

Coach has a huge summer sale with huge discounts on popular bags

Walmart Reveals Top Toys For Christmas 2020: See Full List

You’re welcome Subscribe now and support the local journalism you depend on and trust.

Nicolette Accardi can be reached at [email protected]. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Do you have a tip? Tell us. nj.com/tips




Source link