UNION, N.J. (ADAMS) – Bed Bath & Beyond is filing for bankruptcy protection as it tries to stay afloat. The home goods retailer filed for Chapter Eleven protection Sunday in a New Jersey court.
The company listed its estimated assets and liabilities in the range of $1 billion and $10 billion dollars. The company said its 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will stay open to serve customers while it begins the process of closing all of its retail locations.
The store began in 1971 as Bed ‘n Bath. The first store was in New Jersey. It became Bed Bath & Beyond in 1987 . . . and in the late-’90s, it started becoming a mainstream big box store, and that’s when the “Big Blue” coupons started.
The store peaked around 2011, when there were more than 1,100 stores. The troubles started in 2019. Naturally, the pandemic didn’t help.
If you’re a Bed Bath & Beyond shopper, here’s what you need to know:
Starting Wednesday, everything will be a final sale, and won’t be returnable. Also, be sure to use your gift cards. You have two weeks . . . they’ll stop accepting them on May 8th. They’ll stop accepting reward points from their loyalty program on May 15th.
If you have a registry through Bed Bath & Beyond, they’ll be reaching out to you about transferring it to a competitor’s service.
