LIQUIDATION sales are underway at Bed Bath and Beyond stores across the country after the retailer announced a series of store closures.
Shoppers can grab bargains as item prices have been reduced by up to 70 percent.
Hundreds of Bed Bath and Beyond stores have closed since the company announced it would close 150 of its underperforming stores in September last year.
Then the retail giant announced last month that another 150 of its stores would close to stave off financial oblivion.
Last year Bed Bath and Beyond had more than 950 stores across the country, but that number is set to be reduced to fewer than 400 after a series of closures.
Liquidation sales are being held at branches across the country ahead of the impending closures, reports Go Banking Rates.
Shoppers in New Jersey can purchase items whose prices have been reduced by up to 40 percent.
However, prices could be slashed by 70 percent as closing dates get closer.
Bed Bath & Beyond in Elmsford, New York has reportedly announced a closing sale.
An email sent to his customers read: “A store near you is closing.
“Save at least 20% discount [the] lowest ticket prices.
“Visit your local closing store for more discount details. Huge savings across store.”
The US Sun has listed Bed Bath and Beyond stores that have already closed or will be closed.
Bargain Hunters The Krazy Coupon Lady has claimed Christmas ornament prices at her local store have been reduced by up to 50 percent.
This week, a Bed Bath and Beyond store in Coralville, Iowa, closed its doors for good.
The outlet ceased trading March 1, and stores in Cedar Rapids, Davenport and Sioux City will also close, according to the Des Moines Register.
A spokesman told the outlet that the closure of the sale would begin “over the next few weeks and months.”
Bed Bath and Beyond has been on the brink of bankruptcy for weeks.
Its shares have plunged 50 percent over the past month, and in January the company missed interest payments on about $1 billion in bonds, insiders revealed.
However, according to the Wall Street Journal, the company struck a deal with a hedge fund firm to raise $1 billion.
Bed Bath and Beyond had lost more than $1 billion in nine months ended Nov. 26, and bosses have forecast a further drop in sales.
Reports in January claimed the chain would file for bankruptcy, but it hasn’t done so yet.
The retailer had raised $225 million in a securities sale, and CEO Sue Gove said the company is taking further steps to cut costs.
A phenomenon dubbed the “retail apocalypse” has hit the industry, impacting grocery chains, fashion companies and major homeware brands.
Tuesday Morning also faces an uncertain future after filing for bankruptcy.
More than 200 of the 400-plus branches are being closed as the chain struggles to survive.
The US Sun reported that Party City will close more than 20 of its stores after filing for bankruptcy.
https://www.the-sun.com/money/7536380/bed-bath-beyond-liquidation-sales-stores-closing/ Final liquidation sales at Bed, Bath, and Beyond save you up to 70% before hundreds of locations close