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Bed Bath & Beyond has released a list of the initial 56 stores it plans to close as part of a broader restructuring to stabilize the home goods chain's struggling business . The targeted stores are spread across the country, and include locations at malls and shopping centers in Stamford, Conn., Paramus, N.J., Sunrise, Fla., Gurnee, Ill., Schaumburg, Ill. and Farmington Hills, Mich. and Palmdale, Calif. The company recently outlined a major restructuring plan that included plans to close 150 "lower producing" stores and lay off 20% of its workforce. It also obtained $500 million in additional financing. Just a week after that announcement, the company's CFO, Gustavo Arnal, fell to his death in what authorities said was a suicide. The company has appointed an interim CEO and interim CFO. In the run-up to the reorganization announcement, at least one analyst criticized Bed Bath & Beyond for failing to maintain stores and for heavily discounting items. For m...

Shares in Bed Bath & Beyond, a company that was plunged into the volatile world of meme-stock trading this year, fell approximately 41% Friday, days after its share price had more than doubled. The immediate catalyst for the Friday sell-off appeared to be the same as the one that caused the brief run-up earlier in the week and well before it: activist investor Ryan Cohen. Cohen, the co-founder of online pet retailer Chewy, has been at the vanguard of the meme-stock movement, having helped lead a recovery in the price of video game retailer GameStop after disclosing his purchase of a stake in that company in 2020 on the belief that it was undervalued. In March, Cohen revealed his purchase of a 9.8% stake in Bed Bath & Beyond. Online retail investors took the announcement as a hint that the home goods retailer was Cohen's next turnaround candidate. Cohen went on to pressure the company to force out then-CEO Mark Tritton and appoint three hand-picked board members. On Monday...