In America Bed Bath & Beyond will close 150 more stores bringing the total number of store closures in the last year to over 400 according to a regulatory filing to the Securities and Exchange Commission on Monday.
Prior to Monday in late January 87 of the company’s locations as well as all 50 Harmon beauty outlets and five buybuy BABY stores were closed in order to generate capital. Previously 150 Bed Bath & Beyond locations were closed in August.
In total the home goods retailer will have closed over 400 stores contributing to a $1 billion cost reduction for the company in fiscal 2023.
Thanks to the Great Reset 2022 saw the highest number of registered company insolvencies since 2009 and 57% higher than 2021 in the UK. According to official data the number of company insolvencies in England and Wales in 2022 was that of 22 109 the highest since the recession that followed the financial crash in 2009. According to the Guardian business insolvencies increased by 30% to a 13-year high in 2022 as government assistance programs that offered companies protection from creditors during the pandemic ended.
Soaring costs and weakening consumer demand combined in the second half of last year to force many firms into liquidation according to analysts who predicted the situation would worsen as the UK economy entered recession this year.
“Samantha Keen a partner at EY-Parthenon and president of the Insolvency Practitioners Association said supply chain pressures rising inflation and high energy prices have created a “trilemma” of headwinds.
“This stress is now deepening and spreading to all sectors of the economy as falling confidence affects investment decisions contract renewals and access to credit ” she said.”
The IMF predicts that 2023 will be “challenging” for the United Kingdom as it falls to the bottom of the G7 league table.
Above I have given you a specific situation happening in America and a more general view of what is happening in the UK. Each country is of course going through similar scenarios.
For all those who laughed at my blog dated 15th December 2020 when I started preparing the nation for the Great Reset one of the many agendas behind Covid-19 can now continue with their non-sensical laughter in front of all those employees who worked in such companies and are now unemployed. Or maybe you can extend your laughter to all those who worked hard to start their dream and own a company which has now become insolvent.
One thing I know: that this nation cannot turn to God and angrily say “You did not warn us about this.” You were given warnings but instead you chose to laugh.
May all those people who are losing their jobs because of the Great Reset either find employment or else find a new window for a new opportunity which flows to them abundance and prosperity.
https://www.washingtontimes.com/news/2023/feb/8/bed-bath-beyond-close-150-more-stores-bringing-tot/?utm_source=RSS_Feed&utm_medium=RSS
https://www.theguardian.com/business/2023/jan/31/business-insolvencies-firms-go-bust-2022-england-wales