Bed Bath & Beyond files for bankruptcy. It caps a long deterioration for a retailer that didn't keep up with shifts in shopping trends.
“Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company’s website said Sunday morning. “Bed Bath & Beyond and buybuy BABY stores and websites are open and serving customers.” Bed Bath & Beyond had been a crown jewel of the era of so-called “category killers” — chains that dominated a category of retail, such as Toys “R” Us, Circuit City and Sports Authority.
The rise of online shopping But as brick-and-mortar began to give way to e-commerce, Bed Bath & Beyond was slow to make the transition — a misstep compounded by the fact that home decor is one of the most commonly bought categories online. “We missed the boat on the internet,” Eisenberg said in a recent Wall Street Journal interview.
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