The renowned American homeware retailer has filed for bankruptcy and announced the closure of more than 300 of its brick-and-mortar stores commencing Wednesday.
The renowned discount chain specialising in a range of home goods including textiles, housewares, decorative accessories, and appliances, announced the “difficult decision” to close on Sunday morning after 52 years of being in operation.
“Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, setting into a new home to having a baby,” she said in an official statement. For decades, Bed Bath & Beyond set the standard across the home goods sector and held its position through many different economic cycles and alongside a continuously evolving customer.
This financing will support their operations during the bankruptcy process while they attempt to acquire a buyer for the business. “It was one of those famous meme stocks where private investors suddenly decided they wanted to rescue the business even though short sellers were trying to kill it off.”
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