Bed Bath & Beyond Fades Out!

The end of the road.

It appears that Bed Bath & Beyond as well as Buy Buy Baby are going out of business. The company filed for Chapter 11 and Chapter 7 bankruptcy. It will begin liquidating and begin closing all the stores in the United States.

Along with the announcement of the bankruptcy, the company announced that its popular 20% off coupons, or any other coupons, would no longer be accepted at stores or online as of Wednesday.

While the coupons are no longer accepted, the retailer said customers can expect ‘deep discounts’ as the chain’s closing sales start on Wednesday and continue until May 24.

“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 company said in a statement.

According to the retailer, gift cards can be used through May 8. The company will accept returns and exchanges for items purchased prior to Wednesday in accordance with usual policies until May 24, the company said.

“Store closing sales will start on April 26, 2023 (Wednesday). All purchases during our store closing sales will be final.”

Membership benefits will also end Wednesday, but “customers can redeem merchandise credits until May 15, 2023,” according to the company.

Bed Bath & Beyond and Buy Buy BABY stores will remain open as the company “begins its efforts to effectuate the closure of its retail locations,” the company said in the statement.

As many of the last remaining workers get severance or job loss, the CEO and top executives will walk away with millions and venture capitalists will still bank in billions.