Cost Plus World Market Has Been Sold | Check Your Gift Card Stash
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This news may affect the gift cards in your wallet!
We’ve been covering Bed Bath & Beyond’s plans to close roughly 20% of its stores, with 40 locations closing in the next month alone. Bed Bath & Beyond Inc. also owns buybuy Baby, Harmon Face Value, and Christmas Tree Shops. It also owns Cost Plus World Market, but is currently in the process of selling it to Kingswood Capital Management, a Los Angeles-based private equity firm.
The sale of Cost Plus World Market includes 243 brick-and-mortar locations, the store’s website, 2 distribution facilities, and a corporate office located in Alameda, California. This transaction is expected to be finalized before the end of Bed Bath & Beyond’s fiscal year in February.
Following the sale of Cost Plus World Market, the store will likely continue to operate as a stand-alone retail brand. It’s important to note that under its new ownership, Cost Plus World Market will no longer participate in gift card reciprocity with Bed Bath & Beyond and its remaining subsidiaries.
So keep that in mind if you have gift cards from either one of these retailers, and spend your gift card soon if you were planning to use a Cost Plus World Market gift card at Bed Bath & Beyond or vice versa!