Bed Bath & Beyond, along with Buybuy Baby, is declaring bankruptcy.

Rise of Bed Bath & Beyond

Bed Bath & Beyond started as a small specialty store between Warren Eisenberg and Leonard Feinstein in Springfield, New Jersey. They evolved into the iconic big box specialty store. Eisenberg and Feinstein worked in a discount retail store together and decided to open a store together called Bed ‘n Bath. Over time, they were opening more stores. Soon in 1985, they opened their first superstore. That store is the modern design for Bed Bath & Beyond. They did this so they could compete with other bigger retail stores. In 1987, they changed their name to Bed Bath & Beyond. By 2011, there were over 1,100 Bed Bath & Beyond stores open. 

The Downfall of Bed Bath & Beyond

However, the downfall was inevitable. When the pandemic started, consumers shopped at different stores and bought things online. This caused Bed Bath & Beyond to close stores and cut employees. On August 31, 2022, to close 150 of their stores and cut 20% of their corporate staff. On April 23, 2023, after failing to pay off stock, declining sales, high debt, and years of struggling, Bed Bath & Beyond officially filed for Chapter 11 bankruptcy in the United States. Bed Bath & Beyond announced they plan on closing all 360 Bed Bath & Beyond and 120 Buy Buy Baby locations unless there is a buyer to buy the company.

Bed Bath & Beyond Closing Sales

Bed Bath & Beyond revealed that closing sales will begin today. All purchases after today will be final and they will stop accepting coupons. The company said they “expect” to accept returns and exchanges for items bought before April 26 up until May 24. The Welcome Rewards program will be up and running until May 15, meaning customers can redeem points and merchandise credits. However, customers will not be awarded Welcome Rewards on any future purchases following the bankruptcy announcement. Gift cards can be used through May 8.