Bed Bath & Beyond will likely close 40 stores this year.
According to CNN, the home goods retailer says declining sales are to blame. They hope to negotiate better lease terms with landlords at some of their locations, as well as launch 15 “next-generation stores.” They say these stores would feature more home decor and food products.
If that doesn’t work, they will be forced to shut down 40 locations. It is unclear at this time if any of New Mexico’s five stores will be affected.
The company currently has more than 1,000 stores in North America.