Wildly popular home goods go-to Bed Bath & Beyond is reportedly facing bankruptcy, causing them to shutter 87 stores–3 of which are located in NYC, as reported by CNN.
“As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible. This store fleet reduction expands the company’s ongoing closure program,” a Bed Bath and Beyond spokesperson told CNN.
This isn’t the first time Bed Bath & Beyond had to close their doors, however–150 additional closures were announced last August. And, beyond these 87 closures, shoppers will also have to say goodbye to 5 buybuy Baby locations and the 49 Harmon Face Value stores still standing.
According to the Wall Street Journal, a spokeswoman for Bed Bath & Beyond stated that the company has “failed to pay more than $28 million on three tranches of notes totaling roughly $1.2 billion due on Feb. 1.”
Bed Bath & Beyond quickly became a staple for affordable housewares after being founded in 1971, and it even peaked at 1,552 stores in 2017, according to CNN. Though, like many other stores, the peak of online shopping contributed to its downfall, as well as larger chains that became shoppers’ go-to.
The NYC locations that are closing include:
- 850 Third Avenue in Brooklyn, New York
- 459 Gateway Drive in Brooklyn, New York
- 72 15 25th Avenue in East Elmhurst, New York
As of now Chelsea’s location is keeping its doors open, though, at this point, who knows for sure how long that’ll last.
You better put those 20% off coupons to use while you still can!