Bed Bath & Beyond to Close 150 Stores, While Laying Off 20 Percent of Its Employees

A Bed Bath & Beyond store in Novi, Mich., on Jan. 29, 2021. Emily Elconin/Reuters

The home supply retail giant Bed Bath & Beyond is on the verge of bankruptcy and collapse, as it announces the closure of more of its stores, massive layoffs, and more stock offerings.

The retailer announced on Aug. 31, as part of a “strategic update,” that it will lay off approximately 20 percent of its corporate workforce, close around 150 of its “lower producing” store locations, and remove some of its in-house brands.