Bed Bath & Beyond, Inc. has announced it will close an additional 150 of the popular home goods stores across the country along with a public stock offering in an attempt to avoid bankruptcy. The news comes after two prior store closing announcements totaling 149 stores.
Of the newly announced closures, eight are in Tennessee, and two are in the Nashville area, at 2156 Gallatin Road North in Madison and the Oakwood Commons in Hermitage.
A company spokesperson told The Tennessean Friday that specific closure dates vary by store and that store closing sales will commence and continue over the next few weeks and months.
As of now, there are no other Nashville-area stores set for closure, though the company has indicated there will be additional store closings as its goal is to operate about 360 Bed Bath & Beyond stores, down from 950 locations worldwide this time last year, along with 120 buybuy BABY stores across the U.S.
The retail chain said in addition to the store closures, it aims to raise more than $1 billion in funding through a public stock offering. The company has, so far, raisedabout $225 million and expects to sell an additional $800 million worth of shares over time, according to a company statement.
There are six Bed Bath & Beyond stores in the Nashville market, and two buybuy BABY locations in Tennessee, in Franklin and Knoxville. Neither of those are expected to close.
Other Tennessee Bed Bath & Beyond closures recently announced are:
- The Centre at Deane Hill, Knoxville
- 870 South White Station Road, Memphis
- 1081 Vann Drive, Jackson
- 5523 Highway 153, Suite 112, Hixson
- 442 Pinnacle Parkway, Bristol
- 2829 Wilma Rudolph Blvd, Clarksville
Bed Bath & Beyond, Inc. said in a release that it will continue to execute its customer-focused turnaround plans by optimizing store footprints, investing in inventory and pursuing infrastructure improvements.
No other details were released.
Melonee Hurt covers growth and development at The Tennessean, part of the USA TODAY Network — Tennessee. Reach Melonee at email@example.com.