From linens and bedding to bathroom essentials and even a seemingly endless supply of kitchen gadgets appliances, Bed Bath & Beyond has it all. Unfortunately for the retail giant, financial problems are leading the company to shutter dozens of its locations around the country.
Bed Bath & Beyond is closing 87 stores across 30 states and is expected to file for bankruptcy in the coming weeks. The retailer reportedly failed to pay its more than $28 million interest payments on $1 billion in bonds on Wednesday (February 1) and will enter a 30-day grace period that will give the company time to make the payments before they enter default, per CNN.
The new closures follow the 150 previous closures announced last August. Additionally, five buybuy Baby locations and the remaining 49 Harmon Face Value stores will close.
Among those Bed Bath & Beyond locations expected to close are two stores here in Tennessee:
- 5523 Highway 153, Suite 112 in Hixson
- 870 South White Station Road in Memphis
"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 company spokesperson told the outlet. "This store fleet reduction expands the company's ongoing closure program."
Check out the full list of closures to see which locations around the country will be impacted.