4 More VA Bed Bath & Beyond Stores To Close As Retailer Seeks Funds

VIRGINIA ­— Four more Virginia 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.

Just more than a week ago, the struggling retailer announced it was closing 87 more store locations, including six in Virginia located in Springfield, Fairfax and at Dulles Landing, as well as in Winchester, Williamsburg and Chesapeake.

This updated list of affected stores came after the retailer previously announced in September and December 2022 that it was starting to close low-performing locations.

Earlier in January, Bed Bath & Beyond said stores in Lynchburg and Gainesville were slated to close in 2023. In September 2022, Bed Bath & Beyond announced that it would close locations in Christiansburg and Leesburg.

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

• Alexandria: 7690 Richmond Highway
• Dulles: 45575 Dulles Eastern Plaza
• Harrisonburg: 283 Burgess Road
• Roanoke: 1421 Towne Square Boulevard Northwest

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

Here are the Bed Bath & Beyond stores in Virginia that have yet to be targeted for closure:

• Charlottesville: 975A North Emmet Street
• Falls Church: 5810 Crossroads Center Way
• Fredericksburg: 3700 Plank Road
• Glen Allen: 10050 West Broad Street
• Midlothian: 11609 Midlothian Turnpike
• Newport News: 12132A Jefferson Avenue
• Virginia Beach: 220 Constitution Drive
• Woodbridge: 14101 Crossing Place

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.