Today, Bed Bath & Beyond announced the list of stores which is will close as part of an earlier announced restructuring of the company. Today we learned the store located in the Metroplex will be the only Bed Bath & Beyond to close in the state of Pennsylvania.
The total list includes 200 Bed Bath & Beyond locations which makes up about 21% of the company's portfolio. This move is expected to save the company $250 to $300 Million dollars annually.
Bed Bath and Beyond is an original store to the Metroplex which opened over 20 years ago. The store was renovated in early 2019 with a refreshed format and product line which included the addition of smaller shop items. This exit marks another loss of an original tenant store. Original Tenant Dick's Sporting Goods moved to the Plymouth Meeting Store in early 2020.
Marshall's and Fine Wine and Good Spirits (The State Store) are set to open in the coming weeks.
No word on what, if anything, will replace Bed Bath & Beyond, we sent a note to The Goldenberg Group for comment, we will update you if we hear anything.