Cedar Rapids Bed Bath & Beyond and Two Other Iowa Stores to Close
Sometimes when things go bad there's no stopping the runaway train. That seems to be the case at Bed Bath & Beyond.
Bed Bath & Beyond, the once mighty retailer that celebrated its 50th birthday in 2021, is getting closer and closer to extinction. Following the company's latest announcement, it will soon be as close to extinct as possible in the state of Iowa, where only one store will remain.
It was just over a week ago I told you about the closing of the Bed Bath & Beyond store in Coralville. That announcement came several months after it was revealed that the Dubuque and Waterloo stores were going to close. Those two locations have already shuttered their doors.
Now, more closures of Bed Bath & Beyond stores. The announcement comes as the company continues to "reorganize its finances', according to NBC. This time it's a gigantic list of 150 stores. It will add to a lengthy list of stores already either closed or announced to be closing around the U.S. NBC reports the 150 stores will bring the total number of Bed Bath & Beyond stores closures over the last year to about 400. That's almost half of their total number of physical stores, which was reported to be 953 last year.
In Iowa, the stores on the new list of 150 closures include Cedar Rapids, Davenport, and Sioux City. That will eliminate all Bed Bath & Beyond stores in eastern Iowa. The only remaining store will be in Clive, in central Iowa.
Can this runaway train be stopped? Investors don't appear to be optimistic. Its stock is down nearly 13 percent today, at $2.6250 per share (as of 2:10 p.m.). A year ago today, the stock was trading at more than $16 per share.