No date for Charlottetown Bed Bath & Beyond closure
It's not clear when Charlottetown's Bed Bath & Beyond store will close its doors, following news that the retailer's Canadian operations will be going out of business.
There are 54 Bed Bath & Beyond stores and 11 buybuy BABY stores across Canada, including one on Prince Edward Island.
The company didn't provide a timeline for when P.E.I.'s store might close or how many employees will be affected.
"As we continue to drive forward in our turnaround, and manage our business as efficiently as possible, Bed Bath & Beyond Inc. has made the decision to no longer support a Canadian operation," the company said in an email statement to CBC News Monday afternoon.
"As such, Bed Bath & Beyond Canada has commenced ... proceedings to initiate a wind down of Bed Bath & Beyond and buybuy BABY stores in Canada.
"Bed Bath & Beyond Canada has communicated this difficult news with associates. We remain thankful for their many contributions and dedication to customers."
Bed Bath & Beyond Canada had a net loss of $99.5 million for the nine-month period ending Nov. 26, 2022, the documents show.
As of Nov. 26, Bed Bath & Beyond Canada's assets were valued at around $480.1 million, the documents show, while its total liabilities were worth around $429.7 million.
