Bed Bath & Beyond's newest closings to include 2 more Long Island stores

The troubled home goods chain continues to shrink. Credit: AP/Paul Sakuma

By Tory N. Parrishtory.parrish@newsday.com ToryParrish1Updated February 10, 2023

Two Bed Bath & Beyond stores on Long Island are among 150 additional store closings announced this week as the home-goods retailer tries to cut costs and stave off bankruptcy.

A Bed Bath & Beyond in East Northport, at 3083 Jericho Tpke., and one in West Babylon, at 825 West Montauk Hwy., will close, according to an online list the company updated Tuesday.

The 150 shutdowns are in addition to the group announced last week, when the retailer said 87 Bed Bath & Beyond stores, including two on Long Island — in Bohemia and New Hyde Park — will close. Bed Bath & Beyond Inc. also said it will close all 49 of its Harmon health and beauty stores, including the six Harmon Face Values on Long Island, as well as five buybuy Baby stores, which sell children’s clothes, furniture and other merchandise.

On Long Island, there are currently eight Bed Bath & Beyond stores and one buybuy Baby store.

Bed Bath & Beyond defaulted on debt payments to JPMorgan Chase, and was considering “strategic alternatives,” including restructuring its debt under a bankruptcy, the retailer said in a Securities and Exchange Commission filing in January.

On Tuesday, the Union, New Jersey-based retailer said its stock offerings had raised about $225 million and were expected to generate about $800 million more in the future to pay off debt.

Since August, Bed Bath & Beyond Inc. has announced the closings of more than 400 stores.
As of Nov. 26, Bed Bath & Beyond Inc. had a total of 949 stores, including 762 Bed Bath & Beyond stores in the United States and Canada, 137 buybuy Baby stores, and 50 stores under the names Harmon, Harmon Face Values or Face Values.

The company’s goal is to keep about 360 Bed Bath & Beyond stores and 120 buybuy Baby stores operating in the United States, it said in a statement Tuesday.