Bed Bath & Beyond Closes More Stores In The Hudson Valley

HUDSON VALLEY, NY — Bed Bath & Beyond is closing more stores, including several in the Hudson Valley, as part of its ongoing attempt to survive.

On Monday, the company posted a list of the latest store closings on its website. That includes:

• Its Bed Bath & Beyond stores just off I-287 in Elmsford and on South Road in Poughkeepsie.
• Its Buy Buy Baby stores in Port Chester and Poughkeepsie.
• All 15 of its Harmon stores in New York, including Poughkeepsie and Nanuet as well as Westchester County.

Bed Bath & Beyond said Thursday that it’s in default on its loans and doesn’t have sufficient funds to repay what it owes, the Associated Press reported. The home goods chain said in a Securities and Exchange Commission filing that the default would force it to consider alternatives including restructuring its debt in bankruptcy court.

Bed Bath & Beyond had warned on Jan. 5 that it was considering options including filing for bankruptcy, saying that there was "substantial doubt" that it could stay in business, AP reported. A week later, it reported a 33 percent drop in sales and a widening loss for its fiscal third quarter that ended Nov. 26, compared with the year-ago period. Sales at stores opened at least a year — a key indicator of a company’s health — dropped 32 percent.

Stock shares in the company based in Union, New Jersey, fell 22 percent Thursday in reaction to the news.

The Associated Press contributed to this report.