3 Massachusetts Bed, Bath & Beyond stores to close

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3 Massachusetts Bed, Bath & Beyond stores to close

Three Massachusetts Bed, Bath & Beyond stores are slated to close, the home goods retailer announced. The exact closing dates have not been announced. In August, the retailer announced layoffs, store closures and fresh financing plans in an attempt to curb its business’ decline. In addition to reducing its retail footprint, the company said it would lay off approximately 20 % of employees from its corporate ranks and supply chain, including eliminating its chief operating officer and chief stores officer roles. “We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” interim CEO Sue Gove told CNN in August. “In a short period of time, we have made significant changes and instituted enablers across our entire enterprise to regain our dominance as a preferred shopping destination for our customers’ favorite brands and exciting products.”New funding of $500 million has also been secured, which will help “strengthen our liquidity and secure our path for the future,” Gove said. Its sprawling line of in-house brands is also being reduced, with the company looking to “rebalance its assortment and improve inventory.”That means more well -known national brands will replace its Studio 3B, Haven and Wild Sage brands.

Three Massachusetts Bed, Bath & Beyond stores are slated to close, the home goods retailer announced.

The stores in Dorchester, Milford and Seekonk are listed among the 150 locations set to close nationwide. The exact closing dates have not been announced.

In August, the retailer announced layoffs, store closures and fresh financing plans in an attempt to curb its business’ decline.

In addition to reducing its retail footprint, the company said it would lay off approximately 20% of employees from its corporate ranks and supply chain, including eliminating its chief operating officer and chief stores officer roles.

“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” interim CEO Sue Gove told CNN in August. “In a short period of time, we have made significant changes and instituted enablers across our entire enterprise to regain our dominance as a preferred shopping destination for our customers’ favorite brands and exciting products.”

New funding of $500 million has also been secured, which will help “strengthen our liquidity and secure our path for the future,” Gove said.

Its sprawling line of in-house brands is also being reduced, with the company looking to “rebalance its assortment and improve inventory.”

That means more well-known national brands will replace its Studio 3B, Haven and Wild Sage brands.

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