Springfield's Bed Bath & Beyond is on the parent company's latest list for closure
The Bed Bath & Beyond store in Springfield will close later this year as part of a series of cuts being made to the troubled home furnishings chain.
Springfield's store, located at 3251 South Veterans Parkway, was one of 150 additional stores added to a list of nearly 300 the company is planning to close in an attempt to avoid bankruptcy. The company announced plans to close the stores in a Monday filing with the federal Securities and Exchange Commission, stating that the stores were "lower-performing" in comparison with others that have so far avoided the chopping block.
The company has been wracked in recent years by stagnant sales and a marketplace that has transitioned from brick-and-mortar locations to the internet to buy home furnishings. The COVID-19 pandemic also hurt sales, with some locations staying closed longer than other chains in a similar position.
More:Bed Bath & Beyond warns of possible bankruptcy as sales continue to decline
The company announced last month that they were on the verge of bankruptcy, saying that there was "substantial doubt about the company's ability to continue as a going concern."
Across Illinois, the Springfield branch will join Peoria, Bloomington-Normal and suburban Chicago stores closing in this round of cuts. Stores in Bourbonnais, Champaign, Carbondale, Fairview Heights in the Metro East and Quincy are also slated to close.
Once the Springfield store closes, a location in St. Peters, Missouri in suburban St. Louis would be the closest to the capital city.
The Springfield location opened in 2003 as part of the Southwest Plaza III shopping center run by Charles Robbins, alongside Sports Authority, Gordmans and Old Navy. The Sports Authority store closed in 2016 after that company filed for bankruptcy, while Gordmans closed in 2020, also due to bankruptcy proceedings.
After the Springfield store closes, Old Navy will be the only permanent tenant of Southwest Plaza III.
This article originally appeared on State Journal-Register: Bed Bath & Beyond Springfield location among stores closing
