Bed Bath & Beyond closing Chelsea store for good

Retailer had recently renewed its lease at 620 6th Ave location

New York /
Oct.October 15, 2020 01:45 PM
Bed Bath & Beyond CEO Mark Tritton and 620 6th Avenue (Getty, Google Maps)

Bed Bath & Beyond CEO Mark Tritton and 620 6th Avenue (Getty, Google Maps)

 

Editor’s note: Following publication of this story, Bed Bath & Beyond said that contrary to a notice it filed with New York state, the closure of its store at 620 Sixth Avenue would be temporary. An update is here.

Bed Bath & Beyond is permanently closing its longtime Chelsea stores, as the company continues to unload scores of stores across the country.

The home goods retailer will shutter its sprawling space at 620 Sixth Avenue, according to a state Department of Labor WARN notice filing. It will lay off 113 employees as part of the exit.

The company had been at the location for 30 years. In August it renewed its lease — slightly trimming its space to 92,000 square feet — and said it would turn the store into a flagship location, the New York Business Journal reported at the time.

The store is scheduled to shutter on Jan. 7. According to filings with the state, Bed Bath & Beyond cited unforeseeable business circumstances prompted by Covid-19 as the reason.

A company representative did not respond to an immediate request for comment.

Bed Bath & Beyond announced in July that it would close 200 stores of its 955 locations over the next two years. It was not known if the store is part of those closures.

The company reported a productive second quarter, with net income rising to nearly $218 million from a loss of about $139 million last year.

“Our physical stores are a strategic asset to us,” CEO Mark Tritton said on a call with investors earlier this month.





    Related Articles

    arrow_forward_ios
    Ralph Lauren's Patrice Louvet (Getty, Ralph Lauren)
    Ralph Lauren to add 250 stores in massive retail expansion
    Ralph Lauren to add 250 stores in massive retail expansion
    Michael Remer and Richard Hodos (JLL, Getty)
    Top retail broker Richard Hodos jumps from CBRE to JLL
    Top retail broker Richard Hodos jumps from CBRE to JLL
    HJ Kalikow's Peter Kalikow with 101 Park Avenue (101 Park, Getty)
    HJ Kalikow’s 101 Park inks lease with virtual golf links
    HJ Kalikow’s 101 Park inks lease with virtual golf links
    Commercial Real Estate, Retail
    Bed Bath & Beyond washing hands of 56 locations
    Bed Bath & Beyond washing hands of 56 locations
    RIPCO Real Estate’s Gene Spiegelman and Peter Ripka, JLL’s Matthew Ogle and Erin Grace (RIPCONY, JLL, Getty)
    RIPCO, JLL take home REBNY’s retail deal of the year awards
    RIPCO, JLL take home REBNY’s retail deal of the year awards
    270 West Montauk Highway (Loopnet, Getty)
    Sales price revealed for iconic Hampton Bays bar
    Sales price revealed for iconic Hampton Bays bar
    A photo illustration of Triple Five Group's Paul Ghermezian (Getty Images, Triple Five Group)
    American Dream owner Triple Five Group hit with sexual harassment suit
    American Dream owner Triple Five Group hit with sexual harassment suit
    A photo illustration of Harry Macklowe and One Wall Street (Getty Images, StreetEasy)
    French retailer Printemps to open first US store at Macklowe’s 1 Wall Street
    French retailer Printemps to open first US store at Macklowe’s 1 Wall Street
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...