series bed bath behind He will close his shop Shopping center Sun Square in Bayamon, as part of its plan to achieve financial stability for the company.
The Plaza del Sol Foundation has been identified as One of the first 56 closings Within 150 less productive stores of the chain.
With these closings, the chain is seeking to halt the decline in sales and to start rising. As part of the plan, BB & B has secured more than $500 million in new funding, including a loanaiming to be in better shape for the Christmas season.
The chain owns another store in Puerto Rico, located in the San Patricio Plaza shopping center in Guaynabo. When the company announced a few weeks ago that it was planning to close its least productive stores, this newspaper called Adolfo “Tito” Gonzalez, President of Capara Companiesthe company that owns the mall, to see if San Patricio is one of them.
“It will not close. The operation in Puerto Rico will not be affected at all.”via Head of Kabara Companies.
but, Xavier González, Vice President of Operations at Developers Diversified PR, Owner Sun Square, indicated at the time that he had read the news, but did not know if the facility located in one of his malls was on the list. He replied, “I have no information to that effect.”
In recent years, the chain has reduced the number of its stores. At the beginning of 2020, it had 1,478 stores, while it now has 955 stores, including some Buybuy Baby and Harmon stores.
BB&B’s sales fell 23% in the first quarter of this year, compared to the same stores a year earlier, and 26% in the three-month period ending August 27. The financial report for the second quarter will be published at the end of this month.
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