Bangor’s ‘Bed Bath & Beyond’ Safe From Getting The Ax, For The Time Being
This past September, the company that owns the popular home goods store, Bed Bath & Beyond announced that it would be laying off 20% of its workforce and closing 150 stores nationwide.
Word of the closures came just after Bed Bath & Beyond's CFO, Gustavo Arnal, allegedly committed suicide. It was around that same time that the public learned that the company was trying to keep from going bankrupt.
As the news broke about the store closures, many in Maine wondered if any of the 4 Bed Bath & Beyond stores would be on the list of those slated for closure.
Well, wonder no more. According to USA Today, the company released a list naming 56 of the 150 stores it plans to close to save money...and Maine was not on the list...yet.
"As of May, the retailer operated a total of 955 stores, including 769 Bed Bath & Beyond stores, 135 buybuy Baby stores and 51 stores under the names Harmon, Harmon Face Values or Face Values. As of February, it had roughly 32,000 employees.
Time is of the essence for the company heading into the critical holiday shopping season. It said it expects a 26% decline in comparable sales for its fiscal second quarter, which ended Saturday. It burned through $325 million of cash in the quarter."
The second round of closings will be released at a later date. So until then, it might not be a bad idea to use all of that 20% off coupon you've been hanging on to while you still can.
13 Stores You Shopped At In Maine But Your Kids Have Never Heard Of
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