Home goods retailer Bed Bath & Beyond has filed for Chapter 11 bankruptcy, which will result in an “orderly wind down” of all 360 of its stores across the US and shutter its 120 Buy Buy Baby stores, according to reports. (CNN) The company recently struggled with sales and had been searching for liquidity amid a shrinking inventory. (Yahoo Finance)
Longtime customers of Bed Bath & Beyond may be rushing to use up their coupons as the liquidation process begins, according to The New York Times. Many loyal customers have been scrambling to get hold of their favorite goods at discounted prices before they disappear from store shelves altogether.
The bankruptcy decision has also raised questions about the future of other Bed Bath & Beyond-owned companies, such as baby products retailer buybuy BABY. Reports suggest that all 120 of these stores could also be shut down as a consequence of Bed Bath & Beyond’s filing for bankruptcy. (CNN)
Despite all the closures and negative news, shoppers can still find some great deals on appliances, bedding, and vacuums at Bed Bath & Beyond’s closing sale. The TODAY show provides a comprehensive list of the discounts available to shoppers to ensure they don’t miss out.
Many are saddened at the loss of the store that once seemed to carry everything a shopper could possibly need for their home, with Slate Magazine calling the bankruptcy decision “sad” and “typical of our moment.” However, the decision seems to have been a long time coming, with Bed Bath & Beyond circling the drain for months or even years.
As reports of asset sales and bankruptcy loans are also surfacing, it remains to be seen how far-reaching the effects of Bed Bath & Beyond’s bankruptcy will be on the wider retail industry. (Yahoo Finance)
