
Following months of cost-cutting efforts and store closings in hopes of staying afloat, beleaguered home goods chain Bed Bath & Beyond has filed for Chapter 11 bankruptcy protection and will soon implement an "orderly wind down of its business," a statement from the company read Sunday.
"Thank you to all of our loyal customers," a banner on Bed Bath & Beyond's website reads. "We have made the difficult decision to begin winding down our operations."
"Bed Bath & Beyond and buybuy BABY stores remain open to serve you," the message continues.
According to the retailer, Bed Bath & Beyond websites, along with 360 brick-and-mortar stores and120 buybuy BABY locations will "remain open and continue serving customers as the Company begins its efforts to effectuate the closure of its retail locations."
In Illinois, only eight Bed Bath & Beyond stores remain open.
Bed Bath & Beyond Store Closing Sales, Coupons and More
According to the retailer's website, "deep discount" store closing sales are expected to begin in stores and online beginning April 26, and "all purchases during our store closing sales will be final." Any purchase made prior to April 26 will be accepted through May 24, the site adds.
Local
Merchandise credits will be accepted through May 15, and gift cards will be accepted through May 8, the retailer says. However, the company expects to stop accepting coupons this week.
"We anticipate that we will stop accepting coupons on April 26, 2023, when we will start our store closing sales, where customers will be able to shop for your favorite products at deep discounts," the site says.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter.
Additionally, wedding or baby registries through Bed Bath & Beyond, or buybuy BABY will remain "safe."
"While registry items can no longer be purchased through our platform, you can still view your registry at this time," the company says. "We expect to partner with an alternative platform where you will be able to transfer your data and complete your registry."
Earlier this year, Bed Bath & Beyond announced closures of 19 stores across Illinois, many of them in the Chicago area.
"Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, settling into a new home to having a baby," Sue Gove, President & CEO of Bed Bath & Beyond Inc. said in a press release. "We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process."