Bed Bath & Beyond releases list of store closings; N.J. & N.Y. losing the most
NEW YORK - Embattled home goods retail chain Bed Bath & Beyond has released the list of 87 stores it's closing due to ongoing financial travails.
New Jersey and New York are losing the most stores - 36 in New Jersey, and 26 in New York.
CLICK HERE to see the complete list of store closures.
The company is closing its entire chain of Harmon drugstores as well as five Buybuy Baby stores, it said in a statement to CBS MoneyWatch.
The company said it is working with its advisors "to consider multiple paths" to allow it to run the business as efficiently as possible.
In August, the company announced it would close 150 locations that were underperforming across the U.S. in a bid to cut costs amid declining sales.
GlobalData analyst Neil Saunders last year noted in a research report that the chain's stores are "rather messy and lack basic merchandising discipline."
Bed Bath & Beyond is expected to file for bankruptcy soon as it struggles to raise capital to reorganize its business.