Bed Bath & Beyond has filed 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. 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.
“We had witnessed the department store shakeout and knew that specialty stores were going to be the next wave of retailing,” Feinstein said in 1993. “It was the beginning of the designer approach to linens and housewares and we saw a real window of opportunity.” By 2000, those figures leapt to 241 stores and $1.1 billion in annual sales. The 1,000th Bed Bath & Beyond store opened in 2009, when the chain had reached $7.8 billion in annual sales. The company was something of an iconoclast.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bed Bath & Beyond files for bankruptcy | CNN BusinessBed Bath & Beyond files for bankruptcy. It caps a long deterioration for a retailer that didn't keep up with shifts in shopping trends.
Read more »
Start your week smart: Bed Bath & Beyond, abortion pill access, Sudan evacuations | CNNHere are 5️⃣ things to know for April 23. 1️⃣ Bed Bath & Beyond bankruptcy 2️⃣ Access to mifepristone 3️⃣ Sudan evacuations 4️⃣ Barry Humphries dead 5️⃣ Aggressive new rules to regulate pollution
Read more »
Bed Bath & Beyond Files For Bankruptcy And Plans To Close Its Retail StoresThe company has suffered financial issues since 2019.
Read more »
Bed Bath & Beyond Files For Bankruptcy And Plans To Close Its Retail StoresHome goods retailer Bed Bath & Beyond filed for chapter 11 bankruptcy and is preparing to close its remaining stores, the company announced Sunday, after months of speculation the suffering chain would make the financial move. READ MORE:
Read more »
Bed Bath & Beyond's rocky ride to bankruptcy filingBed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat.
Read more »