Bed Bath & Beyond Is Closing 87 More Stores, 5 More In Illinois
Looking back to last year, it was obvious that Bed Bath & Beyond had some serious problems to deal with if they had any hopes of surviving.
However, after watching what's taken place since they announced that they'd be closing 150 stores and laying off a bunch of their workforce, it sure looks like a it's become a question of when they'll fold up, not if.
Monday's announcement that Bed Bath & Beyond would be closing 87 more stores (in addition to the 150 they had marked for shuttering), and that they've missed a loan payment, could mean a bankruptcy declaration within a week, according to experts.
Back In September, The First List Of Bed Bath & Beyond Store Closing Was Released, Then More Store Closing Announcements Followed
When we first started hearing about BB&B locking up stores across the country, these were the Illinois locations that made the closings list:
- Fairview Heights
Then, a second round of closings were announced early last month by BB&B, including these Illinois stores:
- Chicago: 1419 N. Kingsbury St
- Vernon Hills: 413 Milwaukee Ave
- Quincy: 5110 Broadway St
Now, With Things Going From Bad To Worse In A Hurry, BB&B Says That Even More Stores Are Getting Chopped
According to a list published by USA Today, the new Bed Bath & Beyond closures include the following Illinois locations:
- 3232 Lake Ave., Wilmette
- 1584 S. Randall Rd, Geneva
- 5786 Northwest Highway, Crystal Lake
- 9650 S. Ridgeland Ave., Chicago Ridge
- 215 Harlem Ave, Forest Park
The Rockford BB&B, at this point, still hasn't been put on a closing list.
Will these closings keep Bed Bath & Beyond afloat, or is the company doing 2023's version of rearranging the deck chairs on the Titanic? Patch.com reports that it's more likely the latter:
While the goal of the store closures is to avoid bankruptcy, Reuters reported on Tuesday that Bed, Bath And Beyond was exploring “multiple paths.” Reuters also reported that the retailer missed a loan payment and has not been paying its debts already this week as January comes to a close and could file for bankruptcy as early as this week.
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