60.4 F
Dallas
Tuesday, October 4, 2022
** Preferred Partner - click for more info **Red Flag Reputation

Bed Bath & Beyond Closing Wynnewood Store; Others Survive

SOUTHEASTERN, PA —The Wynnewood Bed Bath & Beyond in Lower Merion Township is one of 56 of the 150 stores it plans to close, according to CNBC financial reports, but other area stores including ones in King of Prussia and Exton are not on the chopping list so far.

So far, North Wales, and Stowe stores, both in Montgomery County, are not on the list for closure.

However, the company expects to identify almost another 100 stories for closure.

The struggling home goods retailer released its plans last month to close the “lower producing” locations, representing about 20% of its namesake stores, according the report.

The closures are part of a broader plan to try to stabilize the company’s finances and turn around its declining sales. In late August, Bed Bath secured more than $500 million in new financing, including a loan, ahead of the key holiday season.

The stories are scattered across the U.S., from California and Nevada to Ohio and Florida.

Source

Related Articles

Latest Articles