The struggling Bed Bath & Beyond Inc. retail chain has released a new list of 150 more location closures, including two in the Phoenix area, adding to previously announced store shutdowns.
As a traditional anchor tenant, Bed Bath & Beyond's locations"could pose a challenge in terms of filling empty stores for some landlords … because of the large size of some of its space,". The store closings also"could affect billions of dollars of commercial mortgage-backed securities, or CMBS, loans for shopping centers, according to one credit ratings firm."
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