STATEN ISLAND, N.Y. — Bed Bath & Beyond is making a brick-and-mortar comeback, reopening several smaller-format stores thanks to a multi-million-dollar investment from specialty retailer Kirkland’s Inc. The concept is expected to launch nationwide later this year.
“Today marks a pivotal moment for Kirkland’s, as the completion of this transaction and the ongoing value of our strategic partnership with Beyond begin to unlock new drivers of transformation following our efforts over the past year focused on revitalizing the Kirkland’s brand,” Amy Sullivan, CEO of Kirkland’s Inc., said in a press release, announcing that her company has successfully finalized a $25 million investment deal with Beyond, the parent company of Bed Bath & Beyond, Overstock, Zulily and BuyBuy Baby.
As part of the deal, Kirkland’s — a specialty retailer of home décor and furnishings — becomes the operator and licensee for the new Bed Bath & Beyond stores. Kirkland’s currently operates 317 stores in 35 states, as well as an e-commerce website www.kirklands.com. The company is unrelated to Kirkland Signature, a house brand of products sold at Costco…