Struggling Bed Bath & Beyond Files For Bankruptcy Protection
April 24, 2023 3:29AM PDT
NEW YORK (AP) — Bed Bath & Beyond — one of the original big box retailers known for its seemingly endless offerings of sheets, towels and kitchen gadgets — filed for bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans.
The beleaguered home goods chain, based in Union, New Jersey, made the filing Sunday in U.S. District Court in New Jersey and said it will start an orderly wind down of its operations including eventually closing its stores, while seeking a buyer for all or some of its businesses.
For now, the company’s 360 Bed Bath & Beyond stores and its 120 Buy Buy Baby sites as well as its websites will remain open to serve customers.