(WBBM NEWSRADIO) - The financial woes of the domestic goods retailer Bed Bath & Beyond will have a local impact.
It has been revealed that six Illinois Bed Bath & Beyond stores will close by the end of the year, as part of the chain’s belt tightening. Last month, the company announced that they would shut down roughly 150 stores, cut 20% of its workforce.
The Illinois locations slated to close:
Gurnee, 6132 Grand Ave., Gurnee Mills Mall
Schaumburg, 915 East Golf Road
Joliet, 2850 Plainfield Road
Bourbonnais, 2056 North State Route 50
Fairview Heights, Fairview Center, 6611 N. Illinois
Carbondale, University Mall, 1265 E. Main Street
Founded in 1971, Bed Bath & Beyond had for years enjoyed its status as a big box retailer that offered a vast selection of sheets, towels and gadgets unmatched by department store rivals. It was among the first to introduce shoppers to many of today’s household items like the air fryer or single-serve coffee maker, and its 15% to 20% coupons were ubiquitous.
But for the last decade or so, Bed Bath & Beyond struggled with weak sales, largely because of its messy assortments and lagging online strategy that made it hard to compete with the likes of Target and Walmart, both of which have spruced up their home departments with higher quality sheets and beddings. Meanwhile, online players like Wayfair have lured customers with affordable and trendy furniture and home décor.
Bed Bath & Beyond executives say they are reverting back to the company's original strategy of focusing on national brands instead of its own private labels, getting rid of one-third of its store brands. It would also stop embracing the “pile high" merchandising approach and work more closely with its suppliers.
The Associated Press contributed