New Home Retailer Launches in Former Bed Bath & Beyond Stores
In a move to capitalize on the growing demand for home goods, entrepreneur [Name] has launched a new retailer in the former Bed Bath & Beyond stores across Canada. The company, named "Rooms + Spaces," aims to provide Canadians with an extensive selection of branded home goods and appliances.
Background
Bed Bath & Beyond filed for bankruptcy in the United States on April 23 after its Canadian operations became insolvent in February. The home goods retailer was successful for several decades but struggled to compete with e-commerce giants like Amazon.com Inc. Despite efforts to revamp its business, Bed Bath & Beyond’s sales began dropping, from US$12.3 billion in 2017 to US$5.7 billion in 2022.
Rooms + Spaces: A New Player in the Market
Rooms + Spaces has secured deals with suppliers who previously sold merchandise to Bed Bath & Beyond and has hired Greg Dyer, the former general manager of the bankrupt retailer’s Canada division, to help steer operations. The company will focus its product assortment on brand names recognizable to Canadians, such as Cuisinart and Miele.
"We don’t think this is a year where everyone’s spending freely," said [Name], founder of Rooms + Spaces. "It’s on us to negotiate hard with our partners to make sure that the value for money is there."
Locations
Rooms + Spaces has announced its plans to open locations in several major cities across Canada, including:
- Kelowna: Orchard Plaza, 1540 Keehn Road
- Langley: Langley City Square, 19860 Langley Bypass
- Vancouver: 1740 West Broadway
- Victoria: Mayfair, 775 Finlayson Street
Additionally, Rooms + Spaces will open locations in the following cities:
- Calgary: Brentwood Village, 3630 Brentwood Road
- Edmonton: South Edmonton Common, 2021-98 Street NW
- Regina: Grasslands, 4855 Gordon Road
- Saskatoon: Preston West, 1709 Preston Avenue North
Rooms + Spaces will also open locations in Ontario, including:
- Belleville: Bell Front Shopping Centre, 366 North Front Street
- Cambridge: Smartcentres Cambridge, 70 Pinebush Road
- East Gwillimbury: Green Lane Centre, 1-18126 Yonge Street
- Kitchener: The Boardwalk, 225 The Boardwalk
- London: Westwood Centre, 3325 Wonderland Road
- Richmond Hill: Bayview Ridge Shopping Centre, 225 High Tech Road
- Stittsville: 5487 Hazeldean Road
- Stoney Creek: Heritage Greene, 1783 Stone Church Road East
- Whitby: Thickson Ridge Power Centre, 1650 Victoria Street East
- Woodbridge: RioCan Colossus Centre, 67 Colossus Drive
Canadian Tire Acquires Former Bed Bath & Beyond Leases
In related news, Canadian Tire Corp. Ltd. announced this week that it would be acquiring 10 former Bed Bath & Beyond leases to expand its Mark’s and Pro Hockey Life banners.
Six of the leases will be for relocations of clothing in Alberta, British Columbia, and Ontario, while the other four will be new Pro Hockey Life stores in Ontario.
Conclusion
The launch of Rooms + Spaces marks a significant shift in the Canadian retail landscape. With its focus on branded home goods and appliances, the company is poised to capitalize on the growing demand for home improvement products. As Canadians continue to seek out affordable options for their homes, Rooms + Spaces is well-positioned to become a major player in the market.
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This article was written by [Name] and edited by [Editor’s Name]. The views expressed are those of the author and do not necessarily reflect the views of Postmedia or its affiliates.
Sources
- Canadian Press
- Amazon.com Inc.
- Bed Bath & Beyond
- Canadian Tire Corp. Ltd.
