BED Bath & Beyond is coming back from bankruptcy with a few changes – including a wave of new stores.
Three major changes have come to Bed Bath & Beyond, including a new format, a new financial partnership with Kirkland’s, and new stores.
Bed Bath & Beyond has bought The Brand House Collective, formerly known as Kirkland’s Home[/caption]
The iconic US retailer was working with Kirkland’s Home, which was just re-named The Brand House Collective, to bring back five brick-and-mortar Bed Bath & Beyond stores.
But now, Bed Bath & Beyond under its parent company Beyond Inc., has purchased The Brand Collective for $10 million.
This deal will accelerate Bed Bath & Beyond’s plan to convert an estimated 300 stores into its own format and open new, smaller format stores.
Amy Sullivan, CEO of Brand House Collective, said that the deal will speed up the plans that were already in place.
She said: “That early success gives us confidence to accelerate the conversion of Kirkland’s Home stores.
“We are also unlocking new opportunities by monetizing the Kirkland’s Home name, both inside Bed Bath & Beyond stores and through wholesale partnerships with independent retailers, creating an exciting new chapter for a brand with a 60-year legacy.”
MIDSIZE IN SCOPE
The 300 stores that will be converted are thought to be of a small to mid-sized scope.
This means that states like California will not be getting a converted store.
The state will continue to be served through delivery, however.
Bed Bath & Beyond had opened its first store under its new model on August 8 in Nashville, Tennessee, under the name The Brand House Collective.
Given the positive feedback it received, the company plans to open five more stores in the greater Nashville area in 2025.
The parent company also aims to convert all of the Kirkland’s Home stores in the next two years.
The smaller format Bed Bath & Beyond Stores will feature a combined collection of items from this catalogue as well as from The Brand House Collective.
There are more plans for Bed Bath & Beyond’s broader brand portfolio, including buybuy Baby and Overstock.
BRANDS HARD HIT BY BANKRUPTCIES
Many chains have struggled to adapt to a post-Covid retail landscape, with several companies filing for bankruptcy
JoAnn Fabrics and Crafts announced it would close all 800 stores after filing for bankruptcy twice in a year.
Hooters announced plans to file for Chapter 11 bankruptcy protection in February.
Liberated Brands announced that it would be closing all 122 retail locations for its boardsport fashion brands Quiksilver, Billabong, and Volcom.
Forever 21 shut down its headquarters after filing for bankruptcy and laying off 358 employees.
Macy’s announced major restructuring plans amid mass store closures.
The first new-and-improved buybuy Baby store is expected to open in 2026.
BED BATH & BANKRUPTCY
Bed Bath & Beyond filed for Chapter 11 bankruptcy protection back in 2023 and shut down all of its stores to turn into an online-only retailer.
This included all 360 of its Bed Bath & Beyond locations as well as 120 buybuy BABY stores,
The company cited many issues at the time, including years of declining sales.
The impact of the pandemic hit the business too, as well as competition from industry heavyweights like Amazon.
Much about the store format has changed, something which the owners refer to as reimaging.
But Bed Bath & Beyond has brought some of its old traditions over to the new partnership, including its famous coupon policy.
And shoppers can still expect a range of home decor, furniture, and textiles.
