12 More FL Bed Bath & Beyond Stores To Close As Retailer Seeks Funds

FLORIDA ­— Twelve more Florida Bed Bath & Beyond stores are targeted for shutdown, according to an announcement on Tuesday that more retail locations are closing as the company tries to stave off bankruptcy. The closings are just the latest for the company, which began cutting stores last fall.

The New Jersey-based retailer announced in September it would be closing about 150 of its more than 900 locations nationwide. Late last week, CBS News reported a securities filing indicating the company had defaulted on loans and was considering restructuring its debt in bankruptcy court.

Last month, the struggling retailer announced it was closing 87 more store locations, including six in Florida.

The latest list of affected stores came after the retailer previously announced in September and December 2022 that it was starting to close low-performing locations. In September 2022, the chain said it plans to close two Florida stores in Sunrise and Sanford.

On Tuesday, the list of corporate closures released by the struggling housewares business grew once again, with 12 more Florida locations set to be shuttered:

• Hialeah: 1460 W 49th St.
• Brandon: 320 Brandon Town Center Drive
• Boca Raton: 20560 State Road 7
• Boynton Beach: 371 N. Congress Ave.
• Orlando: 397 North Alafaya Trail
• Coral Springs: 4631 N. University Drive
• Royal Palm Beach: 540 North State Road 7
• West Melbourne: 1555 West New Haven Avenue
• Jacksonville: 6001 24 Argyle Forest Blvd.
• Largo: 10500 Ulmerton Road Suite 310
• Jacksonville: 13221 City Station Drive, Suite 125
• Apopka: 2239 East Semoran Blvd.

Bed Bath & Beyond did not confirm the dates that each store will shut down.

These were the January 2023 store closings announced:

• Orlando: 5295 International Drive, Suite 100
• Oviedo: 1115 Vidina Place, Suite 175
• Pompano Beach: Shoppers Haven, 3459 N. Federal Highway
• Sebring: 1748 US 27 N.
• Brooksville: 7187 Coastal Blvd.
• Homestead: 2595 NE 10th Court

Bed Bath & Beyond officials announced last month that it plans to cut an additional $80 million to $100 million with an unspecified number of layoffs.

The Wall Street Journal reported recently that the retailer burned through $300 million in cash and assets in the fourth quarter of 2022 alone as Bed, Bath and Beyond's sales continue to flounder, prompting Tuesday's announcement. The Journal also reported that the company would be facing a large number of layoffs as the retailer's fleet of stores continues to diminish.

The new closures announced Tuesday affect nearly 90 stores across the U.S., with Florida having 11 store closings and New Jersey losing all of its Bed Bath & Beyond-owned Harmon stores.

Bed Bath & Beyond had said previously that it would take stock of its inventory of stores and shutter the locations considered to be the most low-performing.

While the goal of the store closures is to avoid bankruptcy, Reuters reported on Tuesday that Bed Bath & Beyond was exploring “multiple paths.” Reuters also reported that the retailer missed a loan payment and has not been paying its debts already this week as January comes to a close and could file for bankruptcy.