New York — When Sears, Toys “R” Us and Circuit City filed for bankruptcy in recent years, it was an opportunity for other retailers to move into their old storefronts.Now, retailers are pouncing on empty Bed Bath & Beyond stores.
“Some of our best stores were created from carved-up Kmart or Sears locations,” Burlington Stores CEO Michael O’Sullivan said earlier this year. Burlington has taken over 44 former Bed Bath & Beyond spaces.
This is the first holiday shopping season in more than 50 years without physical Bed Bath & Beyond stores after the chain went out of business earlier this year and closed its final 360 stores and also 120 buybuy BABYs in one of the largest retail bankruptcies in years. (Overstock.com bought Bed Bed & Beyond’s brand out of bankruptcy and has relaunched it online, complete with the 20% coupons.)
But hundreds of empty Bed Bath & Beyond stores auctioned off as part of the bankruptcy proceedings are turning out to be coveted real estate for retailers and other companies seeking to expand...
RSK: Imagine that.....and just a few years ago people were talking about a retail apocalypse....now retail real estate is a hot commodity.
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- - Volume: 11 - WEEK: 48 Date: 11/29/2023 9:36:01 AM -