Bed Bath & Beyond will not be closing its Chelsea location.
The home goods retailer had filed a notice with the department of labor Oct. 9 announcing that 113 employees will undergo layoffs at 620 6th Avenue and that the store would permanently close in January. However, Bed Bath & Beyond told The Real Deal Friday that it will not shutter the location.
Instead the store will close for renovations and become a flagship location for the retailer.
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Bed Bath & Beyond to close 200 stores
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Bed Bath & Beyond announced in July that it would close 200 stores of its 955 locations over the next two years. The fate of the store on Sixth Avenue was not specified at the time.
The company reported a productive second quarter, with net income rising to nearly $218 million from a loss of about $139 million in the same period a year ago.
“Our physical stores are a strategic asset to us,” CEO Mark Tritton said on a call with investors earlier this month.