Normal, Peoria Bed Bath & Beyond stores to close

Posted on February 10, 2023

*The Bed Bath & Beyond in Normal is located at 1700 East College Avenue. (Graphy courtesy Bed Bath & Beyond)*

NORMAL – The Bed Bath & Beyond stores in Normal and Peoria will soon close, according to an updated store closing list posted by the company.

A closing date for the stores is currently not known.

The struggling company announced Tuesday 150 more stores set to close.

The announcement came after the company based in Union, New Jersey, said it had raised about $1 billion through offerings of preferred stock and warrants to purchase the company’s common stock. The funds will be used to pay off its debt, it said.

The company’s volatile stock, which rose 92% on Monday, fell 47% on Tuesday, ending the day at $3.01, down 82% over the past year.

In early January, Bed Bath & Beyond warned that it may need to file for bankruptcy. A few weeks later, it said it was in default on its loans and didn’t have sufficient funds to repay what it owes.

The latest store closures come as the chain has been reducing its footprint dramatically over the past year. According to a regulatory filing, it will have shuttered more than 400 stores, nearly half of its fleet. That includes the remaining 50 standalone Harmon Face Value Stores, which sells beauty and household products. The company said it anticipates keeping 360 of its namesake stores in addition to 120 BuyBuy Baby stores.

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