Sunday, January 29, 2023

[CLOSURE ALERT] Bed Bath & Beyond Saying Bye Bye to Buckhead

Bed Bath & Beyond, the beleaguered retailer that is seemingly on the verge of bankruptcy, will be closing at least one more Atlanta area store.  The Bed Bath & Beyond at Buckhead Station shopping center (1 Buckhead Loop) started liquidation sales Saturday, offering all in-stock merchandise for 20 per cent off.  The sale is slated to run for several weeks and end when all inventory is sold.  

The 40,000 square foot store opened with the center in December 1996, and after the September 2015 closure of former fellow anchor Toys R Us, is the center's largest tenant by size.  Current tenants in the center include TJ Maxx, ULTA, World Market, Nordstrom Rack, Saks Off Fifth, Old Navy, DSW, and On The Border, among others. (World Market and Saks were added to the center in place of Toys "R" Us.)  Online research indicates that Atlanta's The Home Depot, had in 1994 sought to open a store on the site but was never able to get past a controversial zoning battle, paving the way for the center and Meridian Buckhead, a 20 story, 230 unit condo community.  

Bed Bath & Beyond has in recent years brought in new management and shed some of its sibling brands in an attempt to stabilize its core business and better compete in today's retail landscape.  In 2019, the company hired Target merchandising veteran Mark Tritton in an effort to breathe new life into their business and streamline their operations.  In late 2020, the company announced it was selling popular retailer Cost Plus World Market.  The deal, which closed in January 2021, was valued at $110 million, a far cry from the $495 million that Bed Bath & Beyond had paid for the retailer in 2012.  The Cost Plus transaction followed Bed Bath & Beyond's earlier sales of Christmas Tree Shops, One Kings Lane, Personalization Mall and Linen Holdings.   

In June 2022, displeased with the progress of the turnaround, the company fired Tritton.   

In addition to its namesake banner, the company also operates the Buy Buy Baby retail chain as well as Harmon Stores, another chain of about 50 units.  A report Friday by The Wall Street Journal indicated that another 87 Bed Bath & Beyond stores are slated to close soon, while another report by Yahoo Finance said that the company will also close all of its Harmon stores, spanning 52 locations throughout six states, none in Georgia.  

In early January, Bed Bath & Beyond announced it would close 62 stores across 30 states.  The move affected three more stores in Georgia including those in Snellville, Suwanee, and Valdosta.  The Snellville store, which recently closed for good, is expected, as ToNeTo Atlanta exclusively reported January 3, to reopen in 2024 as a new Nordstrom Rack.  It's unclear what may become of the Suwanee and Valdosta stores.  

A former Bed Bath & Beyond store in Dunwoody that closed this past February reopened this past August as a new Academy Sports + Outdoors.  

In a regulatory filing Thursday, Bed Bath & Beyond warned that it received a notice of default from its lender, JPMorgan Chase.  The company said in its SEC filing Thursday that “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.”

For some, like Broad City's Abbi, Bed Bath & Beyond was a frequent, perhaps too frequent, destination.  

According to the Bed Bath & Beyond website, the company currently operates nearly 700 stores nationwide, inclusive of the stores slated to and actively liquidating.  In Georgia, the company has 20 stores, including three that are actively liquidating.  

Are you surprised to see Bed Bath & Beyond close its Buckhead store?  What would you like to see open in place of Bed Bath & Beyond in Buckhead?  How many 20% off coupon from Bed Bath & Beyond do you currently have in your car or on your fridge?

Please share your thoughts below.  

15 comments:

CloseOTP said...

I used to get a lot of my household stuff from them, but there are too many other options out there. And you can't perpetually rely on 20% off coupons. As for the Buckhead store closing, my assumption is that of all their stores in Atlanta, the rent on that one is the highest.

Anonymous said...

Not surprised given the shape Bed Bath & Beyond is in but sad. I still like this store and went to this location many time over the years.

Anonymous said...

Even with the 20% coupons, their pricing was still high. The stores were poorly designed, badly lit warehouses which failed to create any sort of enjoyable, or memorable experience. Products weren’t stocked and displayed well enough to make me feel they were special enough to buy at the higher costs. Not surprised they succumbed to the competition—-Target has had a better home department now for years! I feel badly for the staff in the store losing their jobs though—as this failure was at the company leadership level!

Anonymous said...

I agree, I’ve always found it very hard to find what I’m looking for at BB&B, just too much stuff.

John S said...

the coupons prove that their stuff is 20% overpriced. Good riddance.

Anonymous said...

Been an absolute dump for years. Disorganized, poorly staffed. Won't be missed.

Anonymous said...

They were once a store that you could find stuff that you may need.

I never understood the coupon scenario. Why not lower the price of everything in the store. They used to flood my mail box with coupons and I would use them to purchase birthday cards.

There was an article published several days ago about the founders of the company and they stated that they totally missed that new thing called the internet.

Poor customer service was another issue.

Hopefully all of the employees will be able to find a new job. My guess is the executives and others have a bonus if they hang out until the bitter end.

Anonymous said...

People complaining about the 20% off coupon are acting as if coupons are something new or exclusive to only BBB. Such a strange thing to whine about. Do you whine when your local favorite store has sales on its products. Why aren't those products sold at the marked down price year round? Such a sense of self-entitlement here, but I wouldn't expect anything less from the ITPers.

JonJon74 said...

They have always been way overpriced... HomeGoods, Marshalls, TJ Maxx and Target are far superior with way better pricing and much more of a selection. It's time for BBB to fade away. (I'm honestly surprised they have held on this long.)

Anonymous said...

Got more news: EVERYONE IS SAYING BUH BYE TO THE GHETTO..,

Anonymous said...

Wtf

Anonymous said...

Last time I was in buckhead was in November 2022 and we saw a homeless man peeing on the tire of someone’s car parked in the Phipps plaza parking garage.

Anonymous said...

You have to wonder why BBB just spent a TON of money remodeling the Buckhead store last year and now they're closing it! The amount of money corporations waste...poor planning. You had to always play the 20% off coupon game. BBB coupons were accepted even if they were expired, you could use one on each item you bought. Then the company introduced Club BBB last year for $29 you got 20% off total purchase and free delivery! We opted not to renew this because the chain is suffering and with the closure of the Buckhead store, there's not one close enough. Ironically we joined the BBB club last year in February when the Perimeter store was closing and at checkout on the final day the clerk said if you sign up today, you can get an addition 20% off your already 90% discount!!! SIGN US UP! The BBB club savings can be used on the store liquidations!

Thanks for the always enjoyable posts on Tomorrow's News Today.

Anonymous said...

Buckhead apartments are where all the drug dealers live now. Homeless addicts have migrated up to Peachtree from Lindbergh and Cheshire Bridge to buy their dope. APD can't be bothered.

Anonymous said...

I bought most of my house wares from BBB / 20 years ago. There staff was great with customer service. If it wasn’t in - they would help Order on internet. No problem ever returning an item that broke- many months later. Too bad they couldn’t keep the great store( at the time ) up.

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