Retailer Bed Bath & Beyond plans to close 87 more stores nationwide, including three in San Diego County, as it may face bankruptcy proceedings.
“We are taking steps to manage our business as efficiently as possible as we work with our advisors to consider multiple paths,” the company said in a statement provided to the City News Service on Wednesday. We continue to analyze our store footprint based on factors and are working with our advisors to identify additional Bed Bath & Beyond store closures to implement in a timely manner.
“…we will update all stakeholders as the plan is developed and finalized.”
The latest round of closings the company announced on Monday follows its August announcement of 150 store closures.
The following San Diego County locations are scheduled to close.
- Carlsbad, 1905 Calle Barcelona, Suite 100
- Suite 170, 10537 4S Commons Drive, San Diego
- 165 S. Las Pozas Road San Marcos
Bed Bath & Beyond reported last week that it received notice of default from lender JPMorgan Chase.
“At this time, the company does not have sufficient resources to repay amounts under the credit facility and this forces the company to consider all strategic alternatives, including restructuring of its debt under US bankruptcy law. will be,” reported CNN.
The latest 87 store closures include five buybuy Baby stores and the last 49 Harmon Face Value stores that used to sell cosmetics.
– City News Service