North Wales Bed Bath & Beyond One of 87 to Shut Down as Store Nears Bankruptcy

By

Image via iStock.

It’s time to say “bye bye” to Bed Bath & Beyond.

The home merchandise chain, known for its big blue 20 percent off coupons, is losing three locations in the Philadelphia area, including one store in North Wales.

The closure is part of a larger nationwide shutdown of 87 sites. The company is also nixing all its Harmon Face Value stores, reported Anne Stych for the Philadelphia Business Journal.

Once an American houseware staple that often served as a backdrop in pop culture media — including in the movie Click and the comedy series Broad City — Bed Bath & Beyond is reportedly headed toward bankruptcy.

According to company filings, it has reported almost $2 billion in long-term debt and a 33 percent year-over-year plummet in sales.

Earlier this month, Nasdaq warned the company it could be delisted, owing to its failure to file a quarterly report to the Securities and Exchange Commission, wrote Stych. Now the beloved big box store has until March 13 to submit a compliance plan to possibly get an extension.

Other locations closing in the Philadelphia area include Mount Laurel and Mays Landing, New Jersey.

Read more about the fate of Bed Bath and Beyond in the Philadelphia Business Journal.


The Wall Street Journal explains Bed Bath & Beyond’s demise.

Stay Connected, Stay Informed

Subscribe for great stories in your community!

"*" indicates required fields

Hidden
MT Yes
This field is for validation purposes and should be left unchanged.
Advertisement