HAMDEN, CT (WFSB) – Three Bed, Bath & Beyond stores were slated to close in Connecticut amid the company’s bankruptcy concerns.
The locations were on Dixwell Avenue in Hamden, Hartford Turnpike in Waterford, and the Ridgeway Shopping Center on Summer Street in Stamford.
Channel 3 reported the Waterford and Stamford locations in September.
The retailer posted a dismal last quarter, which contained the holiday shopping rush.
It said Tuesday that net sales fell 33 percent, to $1.3 billion, during its latest quarter that ended Nov. 26 compared with the same stretch a year ago. It lost $393 million during the quarter, a 42 percent increase from a year ago.
CNN reported that sales dropped in large part because Bed Bath & Beyond did not have enough stuff on shelves from suppliers. The company has been revamping its merchandise and eliminating some of its private brands in favor of name brands.
The retailer previously announced that it would close around 150 stores by the end of its 2022 fiscal year and cut costs by $500 million, which included the cutting of jobs.
On Tuesday, it said it would look to save $200 million more in costs by eliminating some corporate roles and adjusting its supply chain.
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