Bed, Bath, & Beyond AND Bankrupt
Posted on 04/24/2023
Union, New Jersey-based Bed Bath & Beyond Inc. is the big-box retailer that U.S. consumers used for home decorations and other items. The once-listed company fell into major issues. On April 23, 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy. This filing came months after saying it was weighing options to restructure debt, with “substantial doubt” about its ability to keep operating. The filing will allow it to begin liquidating 360 Bed Bath & Beyond stores and 120 Buy Buy Baby shops immediately. Bed Bath & Beyond will close all of its stores and liquidate inventory over the next two months after its turnaround failed.
Stores will stop accepting coupons Wednesday, April 26, 2023.
Bed Bath & Beyond was formed in 1971 with two towels-and-bedding stores in New Jersey. As recently as 2018, Bed Bath & Beyond had more than 1,500 stores.