In the News: Bed Bath & Beyond closing 40 stores

BED BATH & BEYOND TO CLOSE 40 STORES
T. sent a note saying the BB&B shelves looked especially empty — and they sure do — and the chain has now announced that it is closing 40 of its stores, plus another 20 of its other brand stores, such as buybuy Baby and Christmas Tree Shops by early 2020. But the company is still not revealing which ones. And, they’ve got a lot to choose from: there are 1024 Bed Bath & Beyonds between the US, PR, Canada and Mexico; six in Manhattan alone. Here’s hoping we get to keep ours.

One thing I didn’t realize is how long they have been around. The store was founded in 1971 in New Jersey, where they opened the first one in Springfield. By 1985, they had 17 stores in New York and California. But the company’s finances have not been too stable this year, bouncing around for the first quarter and then in freefall since April, going from $19 and change to $10 as of a couple days ago.

TENANTS SUE FOR RENT STABILIZATION
Crain’s reports that two tenants of 10 Hanover Square are suing the landlord for not abiding by the rules of the 421-g tax benefits program, which requires that they list rent stabilized apartments and register them with the state housing department. “Although the building has nearly 500 units, as of June 2019, the landlord’s tax filings indicate that none of the units in the building were listed as rent-stabilized, according to court documents.”

GOVERNOR NARROWS SITES FOR MARIA MEMORIAL
The Broadsheet reported that Cuomo has narrowed down his initial list of six possible sites for a Hurricane Maria Memorial in Battery Park City to just two: Esplanade Plaza (at the southwest corner of South Cove Marina) and the Chambers Street Overlook (at the intersection of Chambers Street and River Terrace).

112 LIBERTY SLATED FOR (ANOTHER) HOTEL
New York YIMBY reports that the five-story building at 112 Liberty will be torn down for a 30-story hotel, permits show. The building, between Trinity Place and Greenwich, appears to be prepared for demolition. The permits were filed more than a year ago, and new building permits for a 30-story hotel were filed earlier this year, Department of Buildings records show.

 

1 Comment

  1. For a second I thought it says Amazon Changes coming soon.

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