Bed Bath and Beyond to Close 150 Store Locations

Bed Bath and Beyond shook things up when they announced some major changes on Wednesday. The well known name has announced the closure of 150 stores, layoffs, and swapping out the brands they show on their shelves. All these decisions are steps to revive the sinking business.

The retailer announced the 150 store closures are all going to be their lower income stores, which helps them reduce headcount by 20%. New brand president Mara Sirhal is optimistic the company will be able to get back some of their customers that have previously strayed away. The company has taken more than $500 million in new finances to rebuild the brand, including a $375 million loan.