The household items chain, Bed Bath & Beyond, has filed for bankruptcy coverage after failing to safe price range to proceed operations. However, the corporate has confident consumers that its 360 Bed Bath & Beyond and 120 BuyBuy Baby stores and internet sites will stay open whilst it “begins its efforts to effectuate the closure of its retail locations.”
The submitting made on Sunday in a US District Court in New Jersey indexed the corporate’s estimated belongings and liabilities as between $1 billion and $10 billion. Bed Bath & Beyond additionally declared that it’ll uphold commitments to consumers, staff, and companions. The company additional said that it has voluntarily made the submitting “to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.”
A banner at the chain’s site introduced: “We have made the difficult decision to begin winding down our operations. Bed Bath & Beyond and buybuy BABY stores and websites are open and serving customers.”