Retailer Bed Bath & Beyond Inc. plans to close its only two stores in Indianapolis as part of a plan it announced in July to eliminate almost a fifth of its stores nationwide.
Bed Bath & Beyond Inc. on Tuesday revealed the first 63 closures of the 200 that are planned nationwide over the next two years. The stores on the initial list are expected to close by the end of this year.
In Indianapolis, stores at 8655 N. River Crossing Blvd. and at 6010 W. 86th St. (Trader’s Point) are on the closure list. Two other stores in Indiana, in Merrillville and Bloomington, also are set to close.
Four suburban Bed Bath & Beyond stores—in Carmel, Noblesville, Greenwood and Avon—survived the initial round of closures and will remain open.
The home goods retailer, which operates more than 950 of its namesake stores in the U.S. and Canada, said in July that the 200 store closures and other restructuring moves along the supply chain would eventually save between $250 million and $350 million a year, excluding one-time costs.
Last month, the retailer said the cuts would eliminate 2,800 jobs. The “significant workforce reduction,” affects both the corporate headquarters in Union, New Jersey, and stores.
Like many peers during the pandemic, Bed Bath & Beyond has tried to scale down, build up its e-commerce business, negotiate with landlords and shore up liquidity where it can. In some cases Bed Bath & Beyond deferred rent payments for stores that went dark due to pandemic shutdowns.
The chain had 55,000 workers as of February.
Editor’s note: This story has been corrected to note that four suburban stores, not five, escaped the closure list.