Less than a week after we reported that Harmon Face Values is shuttering all stores, Bed Bath & Beyond – the flagship brand of its parent company, Bed Bath & Beyond Inc. – is seemingly following suit.
A sales associate at the Upper West Side branch (located at 1932 Broadway just south of 65th Street) confirmed the news, noting that all Manhattan outposts — minus the one in Chelsea — will be closing within the next couple of months.
Additionally, a tipster sent in confirmation of the closure, sharing a snap of the front door of the 53,000-square-foot UWS staple (it’s been open since 2004). As of yesterday, Saturday, February 4, all sales are final and everything store-wide is 10 percent off. Certain coupon tiers are still being honored.
While the situation may seem surprising to shoppers (when has there not been a line to check out at this particular location?), the company is reportedly considering filing for bankruptcy and shutting down 87 stores in the process (the full list of impacted retailers is here).
Prior to these developments, the company laid off over 20 percent of its workforce in recent months. “As our strategic direction changes and we streamline our operations, it is necessary to right-size our organization to ensure we are equipped for the future. Unfortunately, this has necessitated making the difficult decision to say goodbye to some of our colleagues,” a January email to employees read. As of January 26, many severance payments have yet to be received, with updates promised by February 8.
This is the latest shakeup of neighborhood big box retailers, with Marshalls also departing from the Broadway mega-store ecosystem. The UWS Bed Bath & Beyond team member was unsure as to when the Lincoln Center shop would officially close, but our suggestion is to go this week if you want to get the most out of the beloved coupons before it’s too late.