31 January 2023
OLATHE, Kan. (WDAF) — A Kansas City-area store is on the list of locations Bed Bath & Beyond plans to close.
The Bed Bath & Beyond at 15335 W. 119th St. in Olathe is on the list of closures the company released Monday.
The closure is in addition to the following locations the company already planned to close in Kansas and Missouri.
Kansas
Lawrence: 3106 S. Iowa Street, Suite 215
Manhattan: 425 3rd Place
Missouri
Lake St. Louis: 4 Meadows Circle Drive
Osage Beach: 4627 Osage Beach Parkway
Bed Bath & Beyond announced Monday it would close an additional 87 stores. The announcement comes days after the home goods chain said it defaulted on its loans.
The full list, including the newest stores added, is on Bed Bath & Beyond’s website.
The company also plans to close five buybuy Baby stores as well as all of its Harmon beauty locations.
Bed Bath & Beyond told Nexstar the closures are being done to increase efficiency as the company works with advisors to “consider multiple paths” as the retailer tries to turn the business around.
“This store fleet reduction expands the Company’s ongoing closure program of approximately 150 lower-producing Bed Bath & Beyond banner stores,” a spokesperson told Nexstar. “We will update all stakeholders on our plans as they develop and finalize.”
Last Thursday, Bed Bath & Beyond said in a Securities and Exchange Commission filing that it had defaulted on its loans, which may force it to consider restructuring its debt in bankruptcy court.
The filing included some of the other strategies Bed Bath & Beyond is employing to improve its financial position, such as lowering costs, trimming capital expenditures, trying to rework rental deals with landlords and reducing the footprint of its stores, as well as the caveat that “these measures may not be successful.”