Bed Bath & Beyond Just Filed Bankruptcy And Plan To Close All Their Stores
They were once THE store for getting anything and everything for your home — but not so much anymore.
Just like we’ve seen happen to so many other stores as of late, Bed Bath & Beyond has filed for bankruptcy, and this could be the end of an era.
Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations.
Bed Bath & Beyond
While the company’s 360 physical locations will remain open in the short term, they will start selling off inventory — which means SALES — and begin the process of winding down business.
I can imagine the company’s 14,000 employees are freaking out right now.
Having worked retail for 15+ years, I have been through several company closings. It is always difficult and heartbreaking, since you’ve invested so much time and energy into your work and the stores.
Now, according to CNN, Bed Bath & Beyond has “secured a $240 million loan to help fund its operations during bankruptcy.”
While, right now, things look pretty bleak for the company — and its 14,000 employees — there is a slim chance that they could dig themselves out of closing up entirely.
What does this mean?
Bed Bath & Beyond is going to try to sell some or all of its business.
If they are able to find a buyer, Bed Bath & Beyond will stop the store closings.
But, if nobody is interested, Bed Bath & Beyond will close up shop.
This all means SALES for us.
Bed Bath & Beyond store closing sales will start on Wednesday, and we will have to see what happens from there.
What do you think about Bed Bath & Beyond going out of business?
