Bankruptcy.....BB & B

[kadee79]

Bed, Bath & Beyond....

Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday.



“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.



The company’s 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores, will remain open for now, as will websites. The company secured a $240 million loan to help fund its operations during bankruptcy.



But store closing sales will begin Wednesday, and Bed Bath & Beyond will close some stores. Just how many – or what happens to its thousands of remaining employees –depends on what happens next.


A bankruptcy filing does not necessarily mean that a company is going out of business. Many major US companies have filed for bankruptcy, using it to shed debt and other costs they could no longer afford. But even if Bed Bath and Beyond does emerge from bankruptcy, its future is not guaranteed.

www.msn.com/en-us/money/companies/bed-bath-beyond-files-for-bankruptcy/ar-AA1adFse?ocid=hpmsn&cvid=e1ac462760f44874bae36d737eb94831&ei=106

[chiver78]

I got an email this morning from them. it will be interesting to see how this all unfolds. I remember when Linens 'n Things did the same, and I cleaned up with the deals I snagged. but it was always LnT and BB&B. where do people shop for house stuff like this, now? 

[saveinla]

The stores around me have been empty for more than a year now - this was a long time coming. Once they moved to their store items, it went down rapidly.

[happyhoix]

Apr 23, 2023 14:26:57 GMT -5 saveinla said:

The stores around me have been empty for more than a year now - this was a long time coming. Once they moved to their store items, it went down rapidly.

I remember going into the one near here about six months ago looking for a kitchen item. Shelves were half empty, almost no staff, store very sloppy like no one was bothering to straighten the stock. Sad.

[wvugurl26]

Mine is already closed. I unsubscribed to their emails and threw the coupons in the recycle bin. I didn't bother going to the clearance sale for my local store.

I was in there six months ago for something and it was apparent they were closing soon or that the supply chain struggles ran deeper for them than others.

In response to chiver's question, for me it would depend on the item. I've bought that type of stuff from Target, Kohl's, Walmart, Home Goods and Macy's.

DH's nephew is getting married next month. They registered at Williams & Sonoma and Bed, Bath & Beyond. I know that the lady who bought their dishes found the same set at Kohl's and bought them there due to the uncertain status of BB&B.

[Opti]

I worked at BB&B years ago before it reluctantly became a corporation. I think we are just in the death throes now as no corporate buyer has stepped forward. Someone might buy the last bits of inventory and the name and go online like what happened with Pier One. Really wished I had snagged two of the kitchen chairs b4 it all collapsed rather quickly from my POV.

All the Harmon stores are closed, which is what I cared about as none of the BB&B store really restocked anything in that area for more than a year - part of their dying Corp plan I expect. From what I heard about one of the last CEOs they made a huge error in judgement and this is what can happen. Stores all dead.

Tossed all my Harmon coupons. Have not tossed all the BB&B ones yet. I had some nice ones too. 

[Opti]

This might be the same article as the OP, but written so I can understand it.


www.msn.com/en-us/money/companies/bed-bath-beyond-plans-to-swiftly-liquidate-shutter-stores/ar-AA1aedA6?ocid=msedgntp&cvid=34cc5b8c2e9046c7b064627c381e31ef&ei=21


(Bloomberg) -- Bed Bath & Beyond Inc., the big-box retailer that for decades provided essential shopping for college dorms, wedding gifts and new homes, will close all of its stores and liquidate inventory over the next two months after its turnaround failed.



The Union, New Jersey-based company filed for Chapter 11 bankruptcy on Sunday, a move that came months after saying it was weighing options to restructure debt, with “substantial doubt” about its ability to keep operating. The filing will allow it to begin liquidating 360 Bed Bath & Beyond stores and 120 Buy Buy Baby shops immediately, though the company said it’s also searching for a buyer for some or all of its assets.



The shuttering of one of America’s most well-known home goods retailers will put the jobs of thousands of employees — and their retirement savings and severance pay — on the line. The company currently employs about 14,000 people in the US and Puerto Rico, and among its initial requests in bankruptcy is to pay about $76 million of employee wages and benefits.

[Opti]

FYI, Bed Bath & Beyond expects all sales at the remaining brick-and-mortar stores to be completed and the properties vacated by June 30.

[Tiny]

BedBath & Beyond was struggling before the Pandemic hit... I think the Pandemic was the final nail in the coffin.


I've never really seen the appeal of BB&B. Their merchandise always seemed overpriced and it seemed to have the "treasure hunt" format (if I was looking for something specific - odds are I would NOT find it at BB&B). I think TJ Maxx and Marshals will easily take up the slack.

To be honest, I have a LOT of discount and full price stores to choose from, and since I'm not fond of the "I'm going on a treasure hunt! to see what I can find" form of shopping I didn't go to BB&B that often.

That said I know lots of people in real life who will be sad to see the stores go. They like the treasure hunt and stacking of coupons and special buys they could get at BB&B.

[Deleted]

BB&B was always overpriced, but convenient.  Our closest store closed 2 years ago and was replaced by Dick's Sporting Goods.  For me, home items are now Target level or online.  Hmmmm, I think it's been 2-3 years since Target

[bean29]

Over the years I have purchased a few items at BB&B, but never a lot.  I always thought they were overpriced.  Most of our homegoods are Target, Macys, Amazon occasionally Walmart, but no one in my household likes Walmart very much.  We now grocery shop at Meijers quite a bit, and run of the mill kitchen stuff, and storage items, they have a good selection of.  I also occasionally shop at Kohls, but I am no longer a Kohl's fan.  DD has gotten some very nice towels from Amazon and TJ Max.  

I did often purchase simple human garbage bags from BB&B.  I guess it is direct from SH or Amazon now.  Standard garbage bags also fit in my garbage can, but I like the way the SH ones fit in the can. 

[thyme4change]

We go there to turn in empty soda stream co2 (?) containers and buy new ones - they discount them if you turn in the old ones and they don’t go into the trash. Do any other stores do this?