Will Rochester Survive Latest Bed, Bath And Beyond Closings?
It seems we're never more than a few months away from Bed, Bath and Beyond announcing more store closures, and every time we ask, "Will this be the time they axe the Rochester, Minnesota store?"
Well, we're asking again because the retailer has just announced 150 more stores will be shut down.
So far, Rochester's BBB has kept chugging along between Kohls and Michael's at 40 25th St South East. It's one of 8 remaining stores in Minnesota. That number was 10 until early this year when the Duluth and Eagan locations were closed along with 35 other US stores in January.
The plan then was to close 200 stores in two years...so it seems we're not many off from that 200 number with the next 150 stores being shuttered. The plan also includes remodeling 450 locations, which may still be the plan as Reuters is reporting the home goods chain has found $500 Million in financing.
Investors, however, remain concerned that the retailer's plan, announced in a strategic update, will do little to improve Bed Bath & Beyond's business as shares fell as much as 26.5%. The retailer also announced a plan to raise money by issuing new shares. (Reuters)
The reminding eight Minnesota Bed, Bath and Beyond locations are in...
- Apple Valley
- Maple Grove
- St. Cloud
There is no list, leaked, real, or otherwise, to say if the Rochester store is on the chopping block. I'll keep my ears to the ground. If you hear first, slide into my DM's and let me know. If you want to remain anonymous, that's cool. James Rabe on Facebook.
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