Bed Bath & Beyond May Go Out Of Business
Well, it’s not new news but Bed Bath & Beyond is warning they may be going out of business. I mean, we’ve heard they were closing a ton of stores, we heard they were going bankrupt, and we listened to my story of woe at my own store recently and the lack of inventory but they are finally admitting that they may go out of business soon due to stock levels hitting an all-time low in 30 years.
The company is seeking final bankruptcy and released the following statement:
“The Company continues to consider all strategic alternatives including restructuring or refinancing its debt, seeking additional debt or equity capital, reducing or delaying the Company’s business activities and strategic initiatives, or selling assets, other strategic transactions and/or other measures, including obtaining relief under the U.S. Bankruptcy Code, these measures may not be successful….”
I’m kind of sad to hear this and concerned for their other stores like Harmon’s and Christmas Tree Store. Will they suffer the same fate? I’ve always found Bed Bath & Beyond pretty expensive but I did shop there particularly because they always had some interesting items in their beauty section and also, a really cool International Food section (both of which were removed from the store I go to). I think this one can be chalked up to Amazon partially and bigger box stores like Target and Walmart as Bed Bath & Beyond couldn’t keep up with the price points offered from those stores.
I’ll keep you updated on this as it progresses.
Will you miss Bed Bath & Beyond?