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Monday, apr 29
Tag:
Bed Bath & Beyond
Business
1.75 Million Travel Steam Irons Part Of Expanded Recall For Fire, Burn, Shock Hazards
Federal authorities announced that a recall initially reported in May has been expanded to include an additional 1.7 million travel irons after there were new reports of injuries. Kansas-based Vornado announced that it is now recalling upwards of two million Steamfast Home and Away Travel Steam Irons due to fire, burn, and shock hazards due to a faulty power cord. According to the company, the cord can become damaged, leading to possible overheating, which then poses fire and burn risks. The damage can also lead to exposed copper wires, representing a shock hazard. Steamfast travel ste…
Business
Bed Bath & Beyond Lives On - Sort Of: Overstock's Acquisition To Include Rebranding
Despite filing for bankruptcy and announcing the closures of its remaining stores, Bed Bath & Beyond will live on -- sort of -- thanks to one of the biggest names in e-commerce. Overstock purchased the home goods retailer's brand and domain names, and loyalty program assets this week for over $21 million. Overstock currently specializes in online furniture and home furnishings. Within the next week, Overstock said it plans to re-launch the Bed Bath & Beyond domain in Canada, followed weeks later by the re-launch of a refreshed website, mobile app, and loyalty program in th…
Business
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy
Struggling home goods retailer Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday, April 23 with plans to close all of its remaining stores by June after efforts to raise enough money to keep the company alive came up short. The company said in a statement that it will implement "an orderly wind-down" of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets. For now, 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as…
Business
Bed Bath & Beyond To Close More Stores In Massachusetts
Bed Bath & Beyond this week raised the number of stores it plans to close across Massachusetts from seven to at least 12. The retailer said it is struggling with debt obligations and will shutter some of its least profitable stores. Last month, executives announced it had or planned to close seven locations in the state. On Tuesday, they added five more to that list. Those include locations in: Hadley Dorchester Seekonk North Attleborough Leominster Milford Burlington Raynham North Dartmouth Pittsfield Hudson Dedham Eight Bed Bath & Beyond locations in the state…
Business
New Bed Bath & Beyond Store Closures Include 7 MA Locations
Yet another slew of planned Bed Bath & Beyond store closures was announced, including multiple stores in Massachusetts. The struggling company announced the upcoming closures on Monday, Jan. 30, following a list of 62 store shutdowns announced earlier this month. The soon-to-shutter Massachusetts spots are: 230 Fortune Boulevard in Milford 35 Highland Avenue in Seekonk 3 Abbott Park in Burlington 600 South Street West, Suite 13 in Raynham 458 State Rd, Rt 6, Suite 100 in North Dartmouth 665 Merrill Rd in Pittsfield 820 Providence Highway in Dedham…
Business
New Bed Bath & Beyond Store Closures Include 3 Massachusetts Locations
Struggling home goods retailer Bed Bath & Beyond has announced 56 new store closures that it says will be implemented by the end of the calendar year. The closure list includes three locations in Massachusetts: Worcester County: 230 Fortune Boulevard, Milford Suffolk County: 8B Allstate Road, Dorchester Bristol County: 35 Highland Ave., Seekonk The company is due to report its results for the second quarter later this month. Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed. The full list of new closures is available here.
News
Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report
An executive at Bed Bath & Beyond who jumped 18 stories to his death at the so-called "Jenga" tower in New York City where he lived on Friday, Sept. 2 was facing a $1.2 billion insider trading lawsuit, according to a new report. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Arnal was among several defendants named in a complaint alleging a "pump-and-dump" stock fraud scheme, the Daily Mail first reported. Bed Bath & Beyond, the lead defendant, allegedly made a “materially false and misleading statement” in a Securities and Exchange …
News
Bed Bath & Beyond Exec ID’d As Man Who Jumped To His Death From 18th Floor Of Manhattan Tower
Updated story: Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report An executive at Bed Bath & Beyond has been identified as the man who jumped 18 stories to his death at the so-called "Jenga" tower in New York City on Friday, Sept. 2, according to multiple reports. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, a…
Business
Bed Bath & Beyond Accused Of Scaling Back AC In Stores Amid Drop In Sales
Bed Bath & Beyond is being accused of cutting air conditioning in its stores in an attempt to lower company expenses, according to a new report from CNN. The news outlet said in a report on Tuesday, June 28, that Bank of America conducted store visits and found that the stores are cutting the AC to try to recover for lower sales. Representatives for Bed Bath & Beyond told CNN that "... no Bed Bath & Beyond stores were directed to adjust their air conditioning and there have been no corporate policy changes in regard to utilities usage." CNN reported that the analysts from Bank …
Business
Local Bed Bath & Beyond Announces Closing
As Bed Bath & Beyond consolidates and closes locations across the nation, a local store recently announced its final days. In December, the Bed Bath & Beyond in the shopping plaza by the Holyoke Mall announced that it will be closing soon. “Visit soon for sales and great clearance finds,” said a notice posted to the store’s website. Bed Bath & Beyond, 39 Holyoke St., is located in Holyoke Crossing - a shopping plaza that includes a Red Robin, Barnes & Noble, and T. J. Maxx. Even before the pandemic hit, Bed Bath & Beyond had plans to close 200 stores as the company p…
Business
Bed Bath & Beyond To Eliminate Nearly 3,000 Jobs Starting Immediately
Bed Bath & Beyond will cut nearly 3,000 jobs under a plan to cut costs and streamline operations. Jobs will start to be eliminated immediately, the company said in a statement on Tuesday, Aug. 25. "In conjunction with the organizational realignment, the company has implemented a significant workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately," the statement said. "This action is designed to further reduce layers at the corporate level, significantly reposition field operations to better serve…
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