2023 Retail Bankruptcy and Closures

Earlier this year, Bed Bath & Beyond announced that it would file for bankruptcy and close and liquidate all of its brick-and-mortar stores. 

Just a few months later, Overstock.com acquired the Bed Bath & Beyond name, and they’ve now launched the new Bed Bath & Beyond mobile app and website. 

The website, which can be found at bedbathandbeyond.com, features both the traditional BB&B logo and the Overstock logo, and assures shoppers that this will be a “bigger, better beyond.” The mobile app will also be rebranded to Bed Bath & Beyond by Overstock. 

“Bed Bath & Beyond is back with a new website and app where you’ll find the quality items you know and love,” the website explains. “And now we’re offering an even bigger ‘beyond’ with a wide selection of furniture, decor, rugs, and more to help you create the home of your dreams.” 

Expect deals and savings

The deals and discounts that shoppers have come to expect from both Bed Bath & Beyond and Overstock are easy to find on the new website and mobile app. 

For starters, the website boasts a 25% off coupon for downloading the new app and making your first purchase from that platform. There is also an “exclusive discount” of 12% off your purchase, and subscribing to the email list nets a 10% off coupon. 

Some of the other big deals include: 

• 15% off select Lucid mattresses

• 20% off select Bush furniture

• 20% off select Christopher Knight patio furniture

• Back-to-college items from $19

• Kitchen essentials from $39

• Extra 20% off area rugs by Artistic Weaver, bedding, and bath 

• 15% off select furniture 

Making the most of rewards programs

Overstock’s former loyalty program was “Club O,” which has transitioned to Welcome Rewards for the new Bed Bath & Beyond launch. Former Club O members will log into Welcome Rewards with their same username and password, while old Bed Bath & Beyond rewards members will need to activate a new account with the same email address. 

There are also benefits for members of both old rewards programs. Bed & Bath & Beyond rewards members will receive up to $50 in unused rewards points to their accounts, while former Overstock rewards members will receive a 20% off coupon. 

Welcome Rewards costs members $19.95 per year, and the program comes with exclusive benefits designed to save consumers money.

Each purchase yields 5% points for every $1 spent, all purchases are eligible for free returns, members earn up to 40% in extra rewards when purchasing from the Extra Rewards Store, and more. 

National discount chain Tuesday Morning has announced it is closing all of its stores and going out of business. It’s just the latest move in the struggling home furnishings retailer’s downward spiral.

In December, the company voluntarily delisted from the Nasdaq stock exchange when it could no longer meet financial requirements. Earlier this year it filed for Chapter 11 bankruptcy protection.

For shoppers, it could be an opportunity to scoop up some bargains. The company’s website has announced “everything must go” and merchandise has been marked down by up to 30%.

Use gift cards now

Consumers who have Tuesday Morning gift cards should plan to use them right away. The company says gift cards and returns will not be accepted after Saturday, May 13.

With a goal of liquidating all merchandise, the sales event offers a variety of discounted home décor – things like bedding, bath, furniture, lamps, and kitchen. These sales also offer a large assortment of toys, pet supplies, luggage, beauty, crafts, and seasonal decorations.

Bankruptcy filings among retailers have begun to pile up this year as interest rates rise and the industry adjusts to the post-pandemic economy. Bed Bath & Beyond recently filed for bankruptcy, as did David’s Bridal and Party City.

Tuesday Morning did not offer a timetable for closing all of its stores in 25 states. A complete list of the stores that will close is contained in the company’s press release.

Two rival retailers are throwing a lifeline to consumers stuck with expiring Bed Bath & Beyond coupons. After a prolonged struggle, the home goods chain recently announced that it was filing for bankruptcy and would be liquidating its brick-and-mortar and online inventory. 

As part of this process, shoppers had until Wednesday, April 26 to use any of their remaining coupons either online or in-store at the retailer. 

Now, The Container Store and Big Lots have announced that they will accept Bed Bath & Beyond coupons for the coming weeks. The Container Store will accept coupons for 20% off a single item through May 31, while Big Lots will be accepting coupons for 20% off orders of $50 or more through May 7. 

“So. Much. NEW,” The Container Store tweeted on Wednesday, April 26. “Bring in a blue coupon."

David’s Bridal, one of the largest providers of wedding gowns and formal wear, is declaring bankruptcy for the second time in five years. It is also laying off nearly 10,000 employees nationwide and putting the company up for sale.

But the company went out of its way to assure brides planning their wedding that their orders are safe. The company said its stores will remain open and it plans to fulfill “all customer orders without disruption or delay.”

David’s Bridal online platforms, including its Pearl platform and vendor marketplace, remain available and accessible to brides for their wedding planning needs, company executives said. Loyalty rewards members can continue earning and redeeming rewards and the company said it will also continue honoring gift cards as it seeks a buyer for the chain.

James Marcum, David's Bridal CEO, said the company was severely impacted by the COVID-19 pandemic and it has struggled to recover.

“Our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward,” Marcum said. “We are determined to stay focused on our future because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress."

Growing budget problems

Before the bankruptcy announcement, David’s Bridal began an evaluation of a wide range of strategic alternatives to maximize value for all stakeholders, including a marketing and sale process for its assets. In light of its liquidity constraints, the company said it was unable to finalize its marketing and sale process out of court and intends to continue exploring a sale of all or some of its assets pursuant to section 363 of the Bankruptcy Code.

"We are grateful to the seven decades of brides and customers who have trusted us with the most special events of their lives, as well as to the dedicated associates and valued partners who make our customers' dreams come true,” Marcum said. “We remain as committed as ever to providing excellent service, delivering for our brides and customers, and being part of magical moments."