Long-Time Texarkana Retail Store Going Out Business
It's unfortunate but a long-time Texarkana business is closing its doors for good.
Bed Bath & Beyond is set to close in the next few months and Texarkana is not the only store that will be closing. 87 stores nationwide will be shutting down in hopes that the move will help raise more than $1 billion dollars needed to pay off debts.
The retail chain warned its investors of possible bankruptcy after a dismal and disappointing holiday season that saw Bed Bath & Beyond drop to an all-time low in sales from where they were financially in 2021.
The Texarkana store opened years ago when the Texarkana Pavilion shopping center was built and was one of several new retailers that moved into that area. The nationwide shutdown of stores has been going on for the past 3 years somehow Texarkana was able to survive but not this time.
Employees received the bad news on Monday and sources say the store is selling everything including light fixtures, storage shelves, racks, cabinetry, and more. Prices will be marked down quickly until everything is gone!
According to the New York Times, Bed Bath & Beyond stock surged nearly 100 percent, giving it a market value of around $690 million. In 2013, the retail store has around 1,500 stores nationwide but as of last February, there are less than 800 stores left.
I personally hate to see when a long-time store in Texarkana goes out of business but with an uncertain economy growing, I'm certain this won't be the last. Not to mention, the pandemic hurt a lot of businesses with many that never recovered from it or are still struggling today as Bed Bath & Beyond.
Check their Facebook page for updates.