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01.09.2022 / 02:49

Bed Bath & Beyond to close stores, lay off workers in attempt to reverse losses

FILE - A Bed Bath & Beyond sign hangs outside the store on June 29, 2022 in Miami, Fla. (Joe Raedle/Getty Images)Bed Bath & Beyond said Wednesday that it will shutter stores and lay off workers in a bid to turn around its beleaguered business.The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesakes stores and slash its workforce by 20%.

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Bed, Bath & Beyond plans to permanently close 200 stores

coronavirus pandemic is forcing Bed, Bath & Beyond to permanently close 200 stores.The closings, which will take place over the next two years, amount to about 20% of its namesake stores.Wall Street analysts had warned that Bed, Bath & Beyond was in trouble before COVID-19 hit the U.S.In a quarterly statement released Wednesday, the company says the closings will save between $250 and $350 million a year.Bed, Bath & Beyond CEO Mark Tritton says the retailer will emerge from this crisis even stronger, given the strength of the brand.The New Jersey based retailer has not identified which of the two hundred stores will be closing yet.To keep up with the latest news on the pandemic, subscribe to News 6′s coronavirus newsletter and go to

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Coronavirus-impacted Bed, Bath & Beyond to close over 200 stores as quarterly sales tumble

FILE: A view of a Bed Bath and Beyond store on October 03, 2019 in Daly City, California.

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