YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Bed Bath & Beyond operates locally in Springfield Plaza.
SBJ file
Bed Bath & Beyond operates locally in Springfield Plaza.

Springfield's Bed Bath & Beyond avoids closure again

Posted online

Springfield's Bed Bath & Beyond store once again has avoided closure as the Union, New Jersey-based retailer announced a fresh store shuttering wave.

Bed Bath & Beyond Inc. (Nasdaq: BBBY) this week disclosed an updated list of store closures. The Springfield store at 3308 S. Glenstone Ave. in Primrose Marketplace isn't on the list, though one Missouri location in St. Louis is named.

The list has 87 new stores that are shuttering on top of 150 closures disclosed last year, according to media reports.

In reporting its fiscal 2022 third quarter results last month, Bed Bath & Beyond President and CEO Sue Gove said the company is "on track to achieve the 150 store closures that we previously outlined, which will further enable us to allocate resources according to customer demand."

"We continue to work with advisers as we consider all strategic alternatives to accomplish our near- and long-term goals,” Gove said in the earnings report news release. “We have a team, internally and externally, with proven experience helping companies successfully navigate complex situations and become stronger. Multiple paths are being explored, and we are determining our next steps thoroughly, and in a timely manner.”

The retailer may be headed toward a bankruptcy filing after receiving a notice of default from its lender, JPMorgan Chase, according to CNN Business.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: Element Springfield South

Element Springfield South opened; Outlaw Gentlemen Barbershop added a second location; and wellness studio Stretch Zone launched.

Most Read
SBJ.net Poll
What kind of housing does Springfield need more of?

*

View results

Update cookies preferences