Bed, Bath & Beyond files for bankruptcy protection

U.S. Bed Bath & Beyond, the store for seemingly everything for home goods during the 1990s and 2000s, filed for bankruptcy on Sunday, but its stores and websites will remain open and continue serving customers, the company said.

The company made the filling on Sunday as it listed its estimated assets and liabilities of about $1 billion and $10 billion, as a result of the company’s failure to secure funds to stay afloat.

The firm based in Union, New Jersey, said it voluntarily made the filing “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.”

The company said customers will have Sunday, Monday and Tuesday to use their remaining 20 percent off coupons. The company will stop accepting them Wednesday, according to its statement.

In late 2022, the company initiated a significant turnaround plan to reset foundational elements of its operational and financial positioning to better serve customers, employees, and supplier partners.