Find in the news:
BY COUNTRY

Bed Bath & Beyond to close all Harmon stores



The retailer continues to take steps to save the business.
Bed Bath & Beyond

American company Bed Bath & Beyond has decided to close its retail chain under the Harmon brand and cut the number of its stores by 87 outlets. The latest series of closures will be another step in streamlining the business, which will involve a reduction of 150 stores.

Last week retailer defaulted on a $550 million loan. Bed Bath & Beyond's sales fell by a third last year to $1.3 billion. The company's total debt is now estimated at $2 billion.

The retailer continues to take steps to save the business, but analysts believe the company will be forced to initiate bankruptcy protection. This week, the company decided to divest its Harmon subsidiary, which specializes in selling skin care, hair care, and cosmetics and hygiene products.

Harmon joined the Bed Bath & Beyond portfolio in 2002. Today, the retailer has 50 stores, including 30 in New Jersey, 15 in New York, and several in California, Nevada, Connecticut and Florida.

Bed Bath & Beyond had 950 stores, including 760 of the eponymous brand, in 50 states as of the end of November of last year. In addition, the retailer owns 137 BuyBuy Baby stores and 50 stores under the Harmon, Harmon Face Values, or Face Value banners.

Bed Bath & Beyond still needs to file a financial report for 2022. Analysts predict the company will post a net EBITDA loss of more than $740 million. The company's liquidity is currently estimated at $500 million, and analysts expect it to run out entirely by the end of 2023. Thus, in the coming weeks, we can expect the company to file for restructuring through bankruptcy.

More about shopping malls in the USA



Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Dec 21, 2023, Mexico:
Luxury French fashion house Zadig & Voltaire has unveiled its boutique in Mexico City.
Friend
and Follow
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us