Massive retailer closing all 54 stores in Canada
Published February 10, 2023 at 9:37 pm
After shutting down 150 of its 1,000 American stores late last year and then chopping another 87 at the beginning of this month, home goods retailer Bed Bath & Beyond just announced all 54 locations in Canada are going to close.
Reports say the troubled chain is scrambling to consolidate its assets ahead of a possible bankruptcy filing.
The company also owns all Harmon health and beauty store locations in America and shut them down, as well.
“As we work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” the company said in a statement last week, adding that it is analyzing its store footprint “based on a variety of factors.”
Reports were floating out in late January that Bed Bath & Beyond could file for bankruptcy by the beginning of February after the company admitted it has defaulted on a loan from JP Morgan Chase and Co.
insauga's Editorial Standards and Policies advertising