Bed Bath & Beyond, Soon To Be Gone Uptown & Downtown But Chelsea Safe...For Now
The chain is shuttering all of its Manhattan locations but one, in Chelsea, as it scrambles to try to avoid bankruptcy. At least 83 have been laid off in Manhattan stores, according to the NYS Dept. of Labor filings.
| 10 Feb 2023 | 05:54
The Bed Bath & Beyond in Chelsea, on Sixth Avenue between West 18th and West 19th Streets, will be the only Manhattan survivor of nationwide store closures. Photo via David W., Google Maps
Bed Bath & Beyond won’t be around much longer in Manhattan—except for a lone outpost that will stay open in Chelsea, on Sixth Avenue between West 18th and West 19th Streets.
The chain currently has stores on the Upper West Side (at the corner of Broadway and West 65th Street), on the East Side in Kips Bay (at the corner of Third Avenue and East 32nd Street) and Downtown (at the corner of Greenwich and Warren Streets).
The closures are part of a nationwide shutdown strategy, following an announcement from the company on Feb. 7 that it would dig itself out of possible bankruptcy via stock dealings anticipated to raise a total of over $1 billion. The company’s president and CEO, Sue Gove, said in a statement that the move would allow Bed Bath & Beyond to “execute [its] turnaround plan.”
Only 360 Bed Bath & Beyond stores will remain after the nationwide closures, according to a press release. In the city, it’s part of a trend—chain retail has failed to fully bounce back after the COVID-19 pandemic.
Two Worker Adjustment and Retraining Notification (WARN) postings show that on Feb. 1, 53 employees at the Upper West Side location and 30 employees at the Kips Bay store were notified they’d be out of a job by May 2, when both outposts will close. None of the employees at either location are part of a union. There was no WARN notice for the Downtown store at press time.