The economic downturn caused by the coronavirus pandemic is prompting Bed Bath & Beyond to permanently close 200 stores, Nexstar sister station WIAT reported.
The closings will take place over the next two years and amount to about 20% of its namesake stores.
In the Kansas City metro, there are at least seven stores within 25 miles from downtown, according to the company’s website. It’s not clear at this time which stores will get cut.
Wall Street analysts had warned that Bed Bath and Beyond was in trouble before the COVID-19 pandemic hit the U.S.
In a quarterly statement released Wednesday, the company said the closings would save between $250 million and $350 million a year.
Bed Bath & Beyond CEO Mark Tritton said the retailer will emerge from this crisis even stronger, given the strength of the brand. The New Jersey-based retailer has not identified which of its stores would be closing yet.
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