With news of Bed Bath & Beyond’s bankruptcy filing, the household-goods retailer has announced it will begin store-closing sales at its California and other locations on Wednesday. Company officials said they will be “winding down” operations and conducting a limited marketing process to solicit interest in the sale of some or all of their assets.
While the remaining 350 Bed Bath & Beyond locations and 120 buybuy Baby locations will remain open for now, it is uncertain how long that will last. All locations will begin their store-closing sales on Wednesday, with customers able to shop for their favorite products at deep discounts.
As part of the bankruptcy proceedings, the company noted that gift cards will be accepted through May 8, and people with merchandise credits can redeem them through May 15. The Welcome Rewards+ credit cards will still be accepted.
It’s the end of an era for Bed Bath & Beyond customers, who will no longer be able to use the retailer’s ubiquitous coupons that almost always accompanied the company’s advertising mailers. Company officials are encouraging customers to take advantage of the store-closing sales to shop for their favorite products while merchandise selection is best.
Despite the news of the bankruptcy filing, company officials are optimistic, stating that the goal is to emerge from the bankruptcy process as a stronger and more competitive retailer. With the store-closing sales set to begin, it remains to be seen how this will affect the future of the company and its loyal customers.