Bed Bath & Beyond Could Cease Operations By June 30th

Saturday, April 29th, 2023 -- 8:03 AM

(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 made the filing Sunday in U.S. District Court in New Jersey and said it will start an orderly wind down of its operations, while seeking a buyer for all or some of its businesses. In the bankruptcy filing, the retailer said it anticipates closing all of its stores by June 30.

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. It listed estimated assets and liabilities in the range of $1 billion to $10 billion. The move comes after the company failed to secure funds to stay afloat.

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