Bed, Bath & Beyond closing multiple Minnesota, Iowa stores
(ABC 6 News) – Bed Bath & Beyond said Tuesday it will be closing 150 more stores as the beleaguered home goods chain cuts costs as it works to stay afloat.
The announcement came after the company said it had raised about $1 billion through offerings of preferred stock and warrants to purchase the company’s common stock. The funds will be used to pay off its debt, it said.
In early January, Bed Bath & Beyond warned that it may need to file for bankruptcy. A few weeks later, it said it was in default on its loans and didn’t have sufficient funds to repay what it owes.
RELATED: Struggling Bed Bath & Beyond closing 150 more stores
The company has released the full listing of the stores to close. Among them are stores in:
- Cedar Rapids
- Sioux City
The full list of store closures as of Feb. 7 is below.