CINCINNATI — Struggling retailer Bed Bath & Beyond has just announced some of the stores that will get the axe this fall, as it struggles to turn around its falling sales.
It had said last month that it would close 150 stores nationwide, and has just released a list of the first 56 stores to shutter, after a report in Bloomberg News.
Among the stores closing are two in the Cincinnati area, according to a company release:
- The Colerain store, on Stone Creek Boulevard in Colerain Township.
- The Bridgewater Falls store, on Princeton Road outside Hamilton.
Two other Ohio stores are on the list, in Sandusky and Perrysburg, both in the Toledo market.
The company says it is closing many lower-performing stores, as it tries to return to profitability.
It has already closed hundreds of stores in the past two years, according to a report in CNBC, and said it plans to cut 20% of its workforce.
However, the chain continues to struggle, and earlier this month its Chief Financial Officer fell to his death in what the New York City Medical Examiner ruled a suicide.
Bloomberg says in recent years, the company had turned to more in-house brands, instead of major national brands, but says the strategy failed.
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