Maine's three Bed Bath & Beyond stores will close, but timing is unclear
Photo/Alexis Wells
Bed Bath & Beyond has lost shoppers and money after several turnaround attempts. Shown here is the South Portland location.
After a difficult past couple of months, Bed Bath & Beyond has filed for bankruptcy, bringing the longtime home-goods chain to an unfortunate end.
The closures aren’t expected to be immediate, but are expected once inventory is sold off.
The Union, N.J.-based retail chain has 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores.
On April 26, the stores started their “everything must go” sales as the stores begin their “wind-down” operations.
Bed Bath & Beyond is no longer accepting coupons or honoring reward discounts; all sales will be final. Gift cards are expected to remain valid through May 8.
“Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company’s website.
According to published reports, the company said it would look into selling some or all of its business. If it’s able to find a buyer, Bed Bath & Beyond will halt store closings. But if a buyer doesn’t come forward, Bed Bath & Beyond will likely be liquidated entirely.
What about Maine?
Maine has three operating Bed Bath & Beyond stores. They are located at 42 Whitten Rd. in Augusta, 490 Stillwater Ave. in Bangor and 200 Running Hill Rd. in South Portland.
The company has already closed dozens of stores and has struggled to regain its financial footing after several turnaround attempts.
On Feb. 10, Bed Bath & Beyond's Brunswick store was one of the 149 named locations targeted for closure nationwide as the home goods company sought to raise capital. The Brunswick store was located at Merrymeeting Plaza in Brunswick, a 160,000-square-foot shopping center at 147 Bath Road.
Bed Bath & Beyond is not the only company to fall into the retail apocalypse. Many chains have not been able to keep up. David's Bridal, Party City and Serta Simmons have also filed for bankruptcy in recent weeks. Only time will tell what this means for Maine retail stores.
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