Bed Bath & Beyond has announced plans to close its stores in Cedar Rapids, Davenport and Sioux City as part of the company’s plans announced this week to close 150 additional stores nationwide.
The announcement this week comes in the wake of the company’s announcement Jan. 30 that they planned to close their Coralville store, one of 87 store closings announced by the beleaguered retailer at that time.
In August 2022, Bed Bath & Beyond announced the closing of 150 stores, including locations in Dubuque and Waterloo. Those stores are now permanently closed.
The exact date of the latest round of store closings in Iowa hasn’t yet been publicly announced.
After the latest round of closings, Bed Bath & Beyond will have just one store in Iowa, at 11101 University Ave. in Clive.
With the recent announcements, Bed Bath & Beyond will have shuttered 400 stores in the past year or so, NBC News reports – nearly half its total brick-and-mortar footprint.
By many accounts, Bed Bath & Beyond is preparing for a bankruptcy filing. CNN reports the company warned in a regulatory filing in January that it received a notice of default from its lender, JPMorgan Chase.
The company said that “at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code.”
Bed Bath & Beyond, a domestic goods retailer headquartered in Union, New Jersey, was founded in 1971.