The Bed Bath & Beyond location in Springfield is on a list of hundreds of stores slated to close nationwide as part of the retailers attempt to avoid bankruptcy.
The company previously announced plans to close more than 250 stores and added another 150 to the list as part of a regulatory filing Feb. 6. The Wall Street Journal reported the company had struck a deal to raise $1 billion to avoid filing bankruptcy.
At one time, Bed Bath & Beyond had more than 1,500 stores nationwide. The retailer currently has 760 stores and that number will be cut in half following the planned closings.
The Springfield location at 3251 S. Veterans Parkway opened in 2003, joining Sports Authority, Gordmans and Old Navy in the Southwest Plaza III shopping center. Sports Authority closed in 2016 and Gordmans followed in 2020, both due to bankruptcy proceedings. Old Navy will be the only retailer remaining in the shopping center once Bed Bath & Beyond closes later this year.
Nearby communities including Peoria, Bloomington-Normal, Champaign and Fairview Heights also have stores slated for closure.