Bed Bath & Beyond Inc. has slated a Main Line for closure, the Philadelphia Business Journal reports.
The retailer's Wynnewood store appears on a list of 56 locations to be liquidated this year as part of a turnaround plan that the retailer announced last month. The list was posted Thursday on the company's website.
The Montgomery County store is located at 70 E. Wynnewood Blvd.
Bed Bath & Beyond (NASDAQ: BBBY) said in August it will close about 150 of its lower-producing locations and reduce its corporate and logistics workforce by 20%, as well as securing $500 million in new financing.
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The company plans to change its merchandising and inventory strategy to again focus on national brands rather than its private labels, said interim CEO Sue Gove in announcing the turnaround plan in August. Three of its nine private labels — Haven, Wild Sage and Studio 3B — will be discontinued, while reducing inventory across the six remaining house brands, she said.
Check out PBJ.com's full article for how many more locations are set to close.
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