"It's a lot of inventory, it's a lot of supply chain management, but it's all stuff we've done before, so we feel pretty comfortable on our timeline," he said.Īmlani said Putman's strategy is "a crazy idea but it could work if certain ducks are in order. She says it's a monumental task to make sure the chain will have inventory on the shelves in time for launch, but Putman says he is confident that won't be an issue, since vendors were very receptive to the plan. "That home customer has more choices than ever." "How do they know what the customer wants from them, as they never existed before?" she said. She notes that one of the chain's locations will be in London, Ont., in an outlet mall that already has a half-dozen other chains selling similar goods in close proximity, from Winners, Marshalls and HomeSense to Bouclair, Urban Barn and Kitchen Stuff Plus. The home and decor market that rooms + spaces is targeting, meanwhile, is huge and growing, she says, but already full with experienced, large players. "They got a great deal," retail consultant Liza Amlani says, but that's not to suggest that either venture is without risk. Putman says he would have been prepared to start with even more locations, but landlords had other tenants in mind.Ī major one of those tenants was revealed in a separate piece of news on Wednesday, as Canadian Tire announced it would be taking over 10 former Bed Bath & Beyond stores and converting them into Mark's Work Wearhouse and Pro Hockey Life locations.įinancial terms for Putman's transaction were not released, but the price tag for Canadian Tire's deal - $1.6 million to acquire 10 leases - suggests landlords were keen to find people to take over as many of Bed Bath & Beyond's several dozen locations as possible. The company will be hiring about 500 people off the bat, and the venture will be led by Greg Dyer, the former general manager for Bed Bath & Beyond in Canada. In total, rooms + spaces will launch with 800,000 square feet of retail space, plus an e-commerce website. "In some cases, there were other retailers that were interested and in some cases, the deals just didn't make sense to do it, anywhere that we're not, we're still looking," he said. The unauthorized third party did not access payment card data, the home goods retailer says. That's less than half of the 60-odd locations that Bed Bath & Beyond took up, and Putman says he would have been happy to take in more. announced this week that a hacker acquired email addresses and passwords for less than 1 of its online account holders between Sept. Putman's endeavour will start with 21 locations scattered across Ontario, British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador. Stakeholders with questions can email call at (833) 570-5355 or (646) 440-4806 if calling from outside the U.S. "We felt like we could put together a team that could service the Canadian marketplace, the way that Bed Bath & Beyond used to." That's a reference to Putman's previous retail ventures, all of which follow a similar pattern: coming in and either moving into former locations of a defunct chain, or in some cases buying up the brand itself. "That is kind of the story with most things that we buy - good companies that have just lost their way," he said. Can a 34-year-old Canadian business school dropout rescue Britain's HMV?.Any of the above details are subject to change. We will update with more details as they are announced. All in-stock orders placed online both prior to and after the bankruptcy filing are expected to be fulfilled.Coupons and Welcome+ Rewards will no longer be accepted starting April 26.Gift cards, gift certificates and loyalty certificates will be accepted through May 8.Returns and exchanges will continue per the store’s existing policy through May 24 - for items purchased prior to April 23.Here are all the details we have about the liquidation sale. In the case of a successful sale, they will pivot away from any store closings and product liquidation.ĭo you have have one of the many 20% off coupons? If so, you need to use them by Tuesday, April 25, 2023. Bed Bath & Beyond competitors seek to capitalize on retailers demise. Bed Bath & Beyond is part of the Department Stores, Shopping Centers & Superstores industry, and located in New Jersey, United States. Photo: Depositphotosĭuring this going-out-of-business sale, Bed Bath & Beyond is actively trying to find a buyer for the business. Greg Dyer has been working as a Vice President, General Manager of Canada at Bed Bath & Beyond for 7 years. Read on to learn the details about coupons and the liquidation sale. Bed Bath & Beyond announced on April 23, 2023, via a press release, that they are filing for bankruptcy and closing all stores.
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