- After declaring bankruptcy over the weekend Bed Bath & Beyond said its remaining 480 storefronts would remain open while the brand liquidated its inventory, but the announcement was the final death knell for the chain once ubiquitous with home goods across the United States.
- The declaration came after months of dire financial news, which culminated in the closure of 236 stores in February. Since then, Bed Bath & Beyond had struggled to maintain its 360 brand-name storefronts and 120 Buybuy Baby stores in the face of nearly $5.2billion in runaway debt.
- Bed Bath & Beyond’s demise is just the latest in a growing roster of big box stores closing storefronts at increasing rates since the pandemic, and internet retail giants like Amazon solidified their position in the market, a troubling trend for brick-and-mortar stores that has been dubbed the “retail apocalypse.”
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DALY CITY, CALIFORNIA - OCTOBER 03: A view of a Bed Bath and Beyond store on October 03, 2019 in Daly City, California. New Jersey based home goods retailer Bed Bath and Beyond announced that it plans to close 60 of its stores in the fiscal year, 20 more than previously announced in April of this year. (Photo by Justin Sullivan/Getty Images)
