News & Crime Watch

Elk Grove’s Cost Plus World Market The Latest Victim In Wave Of Retail Closures Spilling Into 2020

Elk Grove’s Cost Plus World Market is closing its doors for good later this month. The California-based retailer announced the closure of its Bruceville Road location earlier this month in a radio ad. The company stated that it plans to close its Elk Grove location on January 25. No word yet on the reason for the closure. Cost Plus World Market’s other area locations in Sacramento, Citrus Heights, Roseville, Davis, and Folsom remain open for business. The company’s website does not list a press release with information on the store closure.

Cost Plus World Market describes itself as a retail chain featuring “an eclectic array of imported housewares, furniture, decor & specialty foods.” The retailer first opened its doors in San Francisco in 1958 at Fisherman’s Wharf. There are now over 279 locations worldwide, including 37 American states. The fate of Cost Plus World Market’s Elk Grove employees remains to be seen. The company closed its Natomas location in January of  2017. In the same year, it also closed its San Diego location.

Cost World Plus Market is a subsidiary of Bed Bath & Beyond Inc., which, according to a 2019 report, is closing dozens of stores nationwide. Bed Bath & Beyond purchased Cost Plus World Market in the year 2012, according to the Wall Street Journal. Bed Bath & Beyond recently announced a corporate restructuring and the departure of six senior executives, including its chief merchandising, marketing, digital, legal, brand, and administrative officers. However, Bed Bath & Beyond is not the only struggling specialty retailer. Not to be outdone, this week Pier 1 Imports, one of Bed Bath & Beyond’s top rivals, announced the closure of half of its own stores. Pier 1 Imports reportedly is nearing a bankruptcy filing. According to Coresight Research, U.S retailers closed more than 9,000 stores in 2019, up some 60% over 2018.

Cost Plus World Market is located in Elk Grove Commons at 9680 Bruceville Road.

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