It plans to close about 150 namesake stores but will keep its buybuby BABY chain. The company said it has obtained more than $500 million in new financing and was reducing 20% of its workforce. Shares in the Union, New Jersey-based business lost nearly a quarter of their value Wednesday, after the company announced a restructuring that includes store closures, layoffs and a possible stock offering. He previously worked as chief financial officer for cosmetics giant Avon based out of London and had a 20-year career working overseas leading Procter & Gamble.īed Bath & Beyond has recently been facing turbulence. ![]() I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him.”Īrnal joined Bed Bath & Beyond in 2020. Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company. The statement, from Harriet Edelman, the board’s independent chair, said: “I wish to extend our sincerest condolences to Gustavo’s family. The building was designed by the Swiss architecture firm Herzog & de Meuron, which describes the building as 'houses stacked in the sky. This concept was successfully tested in a sample piece produced by us, and presented to the Artist for his approval prior to beginning the project.The 60-story building is best known for its purposely misaligned apartments stacked atop each other, resembling the popular game “Jenga.”Īnd Arnal’s family Saturday were not immediately returned.īed Bath & Beyond said in a statement on Sunday that the organization “is profoundly saddened by this shocking loss.” 56 Leonard Street (known colloquially as the Jenga Building or Jenga Tower) is an 821 ft-tall (250 m), 57-story skyscraper on Leonard Street in the neighborhood of Tribeca in Manhattan, New York City. In order to make the Leonard Street sculpture installation more expeditious, and to save costs, it was decided to build the precision components such that they could be tightly fit together, with the seams thereby becoming nearly invisible hair line cracks. This on-site seam welding was very laborious and extremely costly. After the seams were welded, they all needed to be ground down, and the seam zones sanded and polished to match the rest of the plate surfaces. Cloud Gate was assembled in Chicago from the finished plate sections and support framework, built at our facility, and then all the joining seams were welded together on site. The Leonard Street sculpture requires equivalent accuracy and precision, but with an added component. ![]() (Jonathan Hilburg/ AN)Īs Tribeca Citizen explains in an excerpt from fabricators Performance Structures, Inc. Although the building above was completed in 2016, the bean, which was always intended as part of 56 Leonard (featuring into renderings as far back as 2008) has been repeatedly delayed. ![]() Installation proper began in October, and the piece, a bean similar to Cloud Gate but squished below 56 Leonard’s mass, has steadily been arriving in pieces since then. Prep work for the mirrored sculpture began last summer, as the sculpture’s outline was marked out on the concrete plaza below the tower. Long live the new bean: The long-delayed New York version of Anish Kapoor’s Cloud Gate in Chicago (colloquially known as The Bean) is finally rising at the foot of the Jenga-like Herzog & de Meuron’s (and executive architect Hill West Architects) 56 Leonard in Tribeca. Three months after going into contract, the penthouse atop Lower Manhattan’s Jenga Building has sold for 45 million, records show.
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