8 ON YOUR SIDE: If you have a stack of Bed Bath & Beyond coupons at home, you only have a few days left to use them. 8onyourside wakanews
on Sunday has announced the deadlines to take advantage of coupons and unspent gift cards as store closing sales get underway. on its website, posted after the bankruptcy announcement., when we will start our store closing sales, where customers will be able to shop for your favorite products at deep discounts," the company states.The company said it will start an orderly wind down of its operations, while seeking a buyer for all or some of its businesses.
Founded in 1971, Bed Bath & Beyond had for years enjoyed its status as a big box retailer that offered a vast selection of sheets, towels and gadgets unmatched by department store rivals. It was among the first to introduce shoppers to many of today's household items like the air fryer or single-serve coffee maker, and its 15% to 20% coupons were ubiquitous.
And the pandemic, which happened shortly after his arrival, forced the retailer to temporarily close its stores. It was never able to use the health crisis to pivot to a successful online strategy as others had, analysts said. And while many retailers were grappling with supply chain issues a year ago, Bed Bath was among the most vulnerable, missing many of its 200 best-selling items including kitchen appliances and personal electronics, during the holiday 2021 season.
The bankruptcy filing comes as the company's shares have tumbled even more as speculation of an impending bankruptcy filing increased. Its financial performance has also deteriorated. In late March, it noted that preliminary results showed anywhere from a 40% to 50% decline in sales at stores opened at least a year for the quarter ended Feb. 25.
Bed Bath & Beyond joins a growing list of retailers that have filed for bankruptcy so far this year including party supplies chain Party City and The bankruptcy could offer a window of what's to come in the retail industry, given the changing landscape and the increasing challenges in the U.S. economy.
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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.
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Bed Bath & Beyond files for bankruptcy protection after long struggleBed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat.
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Bed Bath & Beyond files for Chapter 11 bankruptcyBed Bath & Beyond filed on Sunday for Chapter 11 bankruptcy, the retailer said in a press release.
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Bed Bath & Beyond Files for Bankruptcy ProtectionBed Bath & Beyond has filed for bankruptcy after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour.
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