Bed Bath & Beyond store chain files for bankruptcy

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The company stated that its 360 stores and 120 baby product operations, in addition to its websites, will continue to operate. The facade of a Bed Bath & Beyond store in Dallas, Texas (USA) REUTERS/Jessica Rinaldi The North American chain of home goods Bed Bath & Beyond filed for bankruptcy on Sunday (24), after it was unable to find resources to maintain its operations. The company has started an asset liquidation. The company, which saw its popularity soar in the 1990s, has faced a drop in demand in recent years amid a strategy of selling private label products that has not borne fruit. And the company’s efforts last year to abandon the strategy and bring more products from North American brands that consumers are more familiar with have shown no signs of working. The company reported a loss of about $393 million, with sales down 33%, in the quarter ended Nov. 26. Bed Bath & Beyond filed for recovery listing assets and liabilities of between $1 billion and $10 billion. The company said its 360 stores and 120 operations focused on baby products, in addition to the websites, will continue to operate.

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