Bed Bath & Beyond is closing 37 stores located in 19 states, most by the end of February, the company announced.
The locations are currently going through store closing liquidation sales and are part of the company’s plan to stabilize its business, cut costs and raise cash.
In late August, Bed Bath secured more than $500 million in new financing as it cut staff by about 20%.
The troubled retailer announced in July 2020 that the company would close 200 of its namesake stores over two years. The company also operates buybuy Baby and Harmon Face Values
Bed Bath & Beyond’s footprint has fallen by about 35% over the past two years. The company had 1,478 stores at the end of the first quarter in 2020, and one year later it accounted for 955 stores.
The New Jersey-based home goods retailer is at a crucial moment afterits same-store sales declined 23% in the first quarter and 26% for the three-month period ended Aug. 27.
After its chief financial officer, Gustavo Arnal, died by suicide earlier this month the company is still searching for new leadership to take over for its interim CEO and CFO.
