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The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and CSO within the company. Liquidity was raised to about $1B after a loan and additional financing were secured.
The department store may close up to roughly 300 of its more than 1,000 locations within the next two years, according to Cowen & Co.
In early 2001, JCPenney closed 44 under-performing stores. In 2001, JCPenney sold its direct-marketing insurance unit to Dutch insurer Aegon for $1.3 billion (equivalent to $2.24 billion in 2025) in cash to help refocus the company on retail. [30] In 2003, the company opened three stores in strip centers in Texas, Minnesota, and Indiana.
On March 16, 2020, it was reported that retail sales dropped 20.5% after the pandemic hit the country, a percentage that, according to Business Insider, was unseen since the financial crisis of 2007–2008. [82] Retail sales continued to decrease with a 2.8% decline in May 2020 and 1.8% in June from where they were at the same time in 2019. [83]
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Retail June 23, 2020 24 Hour Fitness [206] Fitness Centers June 15, 2020 Skillsoft [207] Software June 15, 2020 Tuesday Morning [208] Retail May 27, 2020 Advantage Rent a Car [209] Car rental: May 26, 2020 The Hertz Corporation [210] Car rental: May 22, 2020 Exide [211] Batteries May 19, 2020 J. C. Penney (operating as JCPenney) [212] Retail ...
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