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Pandemic profits buoy Bed Bath & Beyond
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Bed Bath & Beyond closing Chelsea store for good
Retailer had recently renewed its lease at 620 6th Ave location
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.
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