Struggling retail chain Bed Bath & Beyond announced a new batch of store closures, including five more in Michigan, most in Metro Detroit.
The company, which has already been cutting costs, said Tuesday it will slash an additional $80 million to $100 million across the company, including an unspecified number of layoffs.
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Last week, Bed Bath & Beyond cautioned that it may need to file for bankruptcy protection as it struggles to attract shoppers. It then said that it’s considering options including selling assets or restructuring its business in bankruptcy court. But the chain acknowledged that even those efforts may not be successful.
Back in September of 2022, the retailer announced five store closures in Michigan, including:
- Chesterfield Township: 50551 Waterside Drive
- Farmington Hills: 31075 Orchard Lake Road
- Northville: Northville Retail Center, 17223 Haggerty Road
- Walker: Green Ridge Square, 3410 Alpine Avenue NW
- White Lake Twp.: 9050 Highland Road
The new list of store closures released this week includes five more stores in the state, including:
- Ann Arbor: 3645 Washtenaw Avenue
- Auburn Hills: 1101 Outlet Collection STE 1260
- Brighton: 8467 W. Grand River
- Lansing: 5845 W. Saginaw Highway
- Muskegon: 5540 Harvey Street
The stores are expected to close within the next few months, with liquidation sales possibly starting soon.