Bed Bath & Beyond files for bankruptcy -- but stores and website remain open

Photo (c) River North Photography - Getty Images

This doesn’t necessarily mean the company is closing down for good

Over the last few years, Bed Bath & Beyond has announced hundreds of store closings across the country. 

Now, the retailer that had once been the one-stop shop for all things home goods has filed for bankruptcy and plans to liquidate all of its remaining inventory. During the bankruptcy process, the remaining stores and the website will remain open for business. 

Currently, Bed Bath & Beyond is looking for interested investors to stay open beyond the liquidation process. During this time, the 360 Bed Bath & Beyond stores and 120 buybuyBABY stores will remain open, and all company employees will continue getting paid and receiving their usual benefits. The company has received a $240 million loan to help keep up with business operations during this time. 

“Millions of customers have trusted us through the most important milestones in their lives – from going to college and getting married, settling into a new home to having a baby,” said Bed Bath & Beyond CEO Sue Grove. “Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuyBABY. 

“We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process. We will continue working diligently to maximize value for the benefit of all stakeholders.” 

There’s still time to use gift cards and coupons

Stores will begin to wind things down starting on Wednesday, April 26. According to the Bed Bath & Beyond website, the company “encourages you to come shop for your favorite products while merchandise selection is best.” 

This also means that all purchases made on or after April 26, 2023, will be final sales – no returns or exchanges will be processed for items purchased after that date. However, for anything purchased prior to that date, shoppers have until May 24, 2023, to return or exchange them. 

Over the next few weeks, it will also be the last call for shoppers to use coupons, gift cards, and rewards. Important dates to remember are as follows: 

  • Coupons won’t be accepted after April 26, 2023

  • Gift cards will be accepted through May 8, 2023

  • Merchandise credits will be accepted through May 15, 2023

  • Welcome Rewards can be redeemed through May 15, 2023 (Welcome Rewards will no longer be awarded on any future purchases.)

Shoppers will also have access to the Bed Bath & Beyond and buybuyBABY mobile apps throughout the liquidation process, as well as their Welcome Rewards+ store credit cards. However, customers should also know that canceling their rewards memberships isn’t going to yield a refund. 

Registries are safe

For any couples or parents-to-be who may have a registry with Bed Bath & Beyond or buybuyBABY, the company said its bankruptcy filing shouldn’t be a cause for concern. 

The company has assured all customers that their registry data remains safe, and the goal is to have all registries transferred to another platform soon. Once that happens, customers will be able to transfer all of their registry data, and anyone looking to purchase gifts will be able to do so. 

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