Bed Bath & Beyond stores will remain open for now as it 'begins its efforts to effectuate the closure of its retail locations,' the company said in a statement.
Bed Bath & Beyond filed for Chapter 11 bankruptcy April 23 and announced that it will begin to “implement an orderly wind down” of operations in all 360 stores after a year of declining sales and closures.
While shoppers may have to say goodbye to the chain, which was founded in 1971, shoppers will soon be able to to take advantage of the closing sales.Johnny Milano / Bloomberg via Getty ImagesThe home goods retailer announced it had “filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey” in a statement April 23.
Bed Bath & Beyond said it has received $240 million from the investment firm Sixth Street Specialty Lending to help fund the bankruptcy process as it tries to sell some of its assets.Bed Bath & Beyond revealed on its website that closing sales will begin on April 26 with"deep discounts." Customers can still shop online, in stores or using the Bed Bath & Beyond/buybuy BABY app.
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