Harmon, a health and beauty subsidiary of Bed Bath & Beyond, has become a casualty of its parent company's teetering on bankruptcy.

WHO: Established in 1971, Harmon became a subsidiary of Bed Bath & Beyond in 2002. The health and beauty subsidiary did business as Harmon, Harmon Face Values, or Face Values, with the Mid-Atlantic region as its core market. The beauty retail chain operated 50 stores—30 in New Jersey, 15 in New York, two in California, and one in Nevada, Florida, and Connecticut.

WHY: Bed Bath & Beyond has been distressed for years, having failed to reinvent itself in the digital age and being burdened by a highly promotional marketing strategy.

DETAILS:

• At the end of January, Bed Bath & Beyond decided to liquidate all of the chain’s stores. 
• Bed Bath & Beyond acquired Cedar Grove, New Jersey-based drugstore chain Harmon Stores in an all-cash transaction in 2022.