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Bed Bath & Beyond Begins Store Closings as Retailer Plans Layoffs, Cost Cuts
- Closings focused on locations in Midwest, New York, New Jersey
- Retailer has cut 20% of workers, will close 100 more stores
Photographer: Patrick T. Fallon/Bloomberg
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Bed Bath & Beyond Inc. is starting to close down and liquidate 56 stores as part of a wide-ranging turnaround plan, which the troubled retailer is betting will rekindle some of its lost appeal with US shoppers.
The closings, many of which are happening in the upper Midwest, New York and New Jersey where its locations are more densely packed, are the first round of what will ultimately total about 150 stores.