5 Michigan Bed Bath & Beyond stores to close: Here’s where

Retailer closing 150 stores nationwide

FILE - Bed-Bath-&-Beyond-Strategic-Update,Shoppers enter and exit a Bed Bath & Beyond in Schaumburg, Ill., Jan. 14, 2021. Shares of Bed Bath & Beyond plunged in premarket trading Wednesday, Aug. 31, 2022, after the struggling home goods retailer announced a restructuring that includes store closures, layoffs and a stock offering. The company plans to close about 150 namesake stores but will keep its buybuy Baby chain. (AP Photo/Nam Y. Huh, File) (Nam Y. Huh, Copyright 2021 The Associated Press. All rights reserved.)

Struggling retailer Bed Bath & Beyond released the full list of coming store closures, including five in Michigan, four of which are in the Metro Detroit area.

Bed Bath & Beyond announced the plan to close 150 stores and slash its workforce by 20% last month in a bid to save $250 million this year. It also said it is considering selling more of its stock to shore up its finances and had lined up more than $500 million of new financing.

The company released the full list of store closures on Thursday. About a third will close within the next few weeks.

Here are the five Michigan stores on the list:

  • Chesterfield: 50551 Waterside Drive
  • Farmington Hills: 31075 Orchard Lake Road
  • Northville: Northville Retail Center, 17223 Haggerty Road
  • Walker: Green Ridge Square, 3410 Alpine Avenue NW
  • White Lake Twp.: 9050 Highland Road

As of May, the retailer operated a total of 955 stores, including 769 Bed Bath & Beyond stores, 135 buybuy Baby stores and 51 stores under the names Harmon, Harmon Face Values or Face Values. As of February, it had roughly 32,000 employees.

Bed Bath & Beyond has been facing lots of turbulence recently. Its shares made a monstrous run from $5.77 to $23.08 in a little more than two weeks in August, in trading reminiscent of last year’s meme-stock craze, when out-of-favor companies suddenly became darlings of smaller-pocketed investors.

About the Author:

Ken Haddad is the digital content and audience manager for WDIV / ClickOnDetroit.com. He also authors the Morning Report Newsletter and various other newsletters. He's been with WDIV since 2013. He enjoys suffering through Lions games on Sundays in the fall.