All Maine, New Hampshire Bed Bath & Beyond Stores to Close Permanently
A turbulent time for Bed Bath & Beyond over the past several months is coming to an end. The long-time home goods retailer entered into a "restructuring" after a downturn in profits, That led to an initial wave of Bed Bath & Beyond store closures, some of which were in New England. Despite a promise to cut expenses and push forward with new, innovative ideas, Bed Bath & Beyond has filed for bankruptcy and plans to close all stores nationwide.
According to CNN, Bed Bath & Beyond plans to liquidate all inventory before closing all their stores permanently. The closures aren't expected to be immediate, but soon. Currently, Maine has three operational locations of Bed Bath & Beyond in Augusta, Bangor, and South Portland. Liquidation sales are expected to start Wednesday at those locations.
The story could be a little different for the remaining New Hampshire locations. Bed Bath & Beyond will look at stores that are close to one another milage-wise, and determine whether to centralize their liquidation efforts. For now, the six New Hampshire locations in Bedford, Concord, Keene, Nashua, Portsmouth, and Salem plan to remain open, with liquidation sales beginning Wednesday.
This isn't necessarily the end for Bed Bath & Beyond. The company has secured funds to liquidate inventory and will remain operational over the next several weeks. If a buyer emerges who is willing to take on the debt the company has accrued, the Bed Bath & Beyond name brand could continue and store closures could be halted.