The Bed Bath & Beyond store in Noblesville at the Hamilton Town Center is among six Indiana stores that will close its doors as the retail chain continues to face financial woes.
The Noblesville store at 14139 Town Center Blvd., Suite 800, was on the list targeted for closure by the New Jersey-based company. Stores in Avon, Bloomington, Lafayette, Fort Wayne and Valparaiso are also on the closure list recently released by the company.
In January, Bed Bath & Beyond announced it was exploring the possibility of filing for bankruptcy and recently announced that it secured about $1 billion in preferred stock and warrants to purchase the company’s common stock to pay off its debt.
“This transformative transaction will provide runway to execute our turnaround plan. We continue to put our customers at the center of every decision, positioning Bed Bath & Beyond to meet and exceed their expectations, while resetting our foundation for near- and long-term success,” stated Sue Gove, president and CEO of Bed Bath & Beyond. “We are optimizing our store fleet and supply chain and continuing to invest in our omni-always capabilities. This will enable us to better serve our customers, and grow profitably, by directing merchandise where and how they want to shop with us.
“We are also prioritizing availability of leading national and emerging direct-to-consumer brands our customers know and love. As we make important strategic and operational changes, we will continue to take disciplined steps to enhance our cost base and improve our financial position.”
The company said it plans to trim the total Bed Bath & Beyond stores it operates to approximately 360, in addition to about 120 buybuy Baby stores.
“In response to evolving shopping preferences today, this target store base includes the Company’s most profitable locations and best geographic presence for customers that can enable an optimal omni-experience,” the company stated in a release.
In January, Bed Bath & Beyond announced its Avon store, 10350 E. U.S. Highway 36, would be shuttered. The company has not indicated when the stores will be closed for good.