Bed Bath and Beyond in Normal is going bye-bye. And so are many of their stores in Illinois.
The company announced plans to close the stores in a Monday filing with the federal Securities and Exchange Commission, stating that the stores were “lower-performing” in comparison with others that have so far avoided the chopping block.
The company has taken a hit in recent years by stagnant sales and a marketplace that has transitioned from brick-and-mortar locations to the internet to buy home furnishings. The COVID-19 pandemic also hurt sales, with some locations staying closed longer than other chains in a similar position.
The company announced last month that they were on the verge of bankruptcy, saying that there was “substantial doubt about the company’s ability to continue as a going concern.”
Bed Bath & Beyond has closed more than 400 stores so far and they are in default on their loans.
Across Illinois, the Normal branch will join Peoria. Springfield and suburban Chicago stores closing in this round of cuts. Stores in Bourbonnais, Champaign, Carbondale, Fairview Heights in the Metro East and Quincy are also slated to close.
