Three Pittsburgh-area stores are on the list of locations Bed Bath & Beyond plans to close.
Bed Bath & Beyond announced Monday it would close an additional 87 stores. The announcement comes days after the home goods chain said it defaulted on its loans.
The Bed Bath & Beyond at 60 Quinn Drive in North Fayette; 3739 William Penn Highway in Monroeville; and 1700 Oxford Drive in Bethel Park are part of the closures, the company released Monday.
The full list, including the newest stores added, is on Bed Bath & Beyond’s website
The company also plans to close five buybuy BABY stores as well as all of its Harmon beauty locations.
Last week, the company reported it had received a default notice from JPMorgan Chase after it failed to prepay an overadvance and satisfy certain creditor protections.
Creditors were demanding immediate repayment of the company’s debt, according to a regulatory filing. Bloomberg reported that Bed Bath & Beyond listed around $2.1 billion of obligations it owed as of November.
“At this time, the company does not have sufficient resources to repay the amounts under the Credit Facilities and this will lead the Company to consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code,” the regulatory filing said.
Founded in 1971 in Union, N.J., Bed Bath & Beyond was once a staple of going-to-college shopping lists and wedding registries.
First Published: January 31, 2023, 8:11 p.m.
Updated: February 1, 2023, 1:01 p.m.