Credit: Tom Sofield/NewtownPANow.com
The Bed Bath and Beyond store in Newtown Township will close as the chain liquidates in the coming weeks.
On Sunday morning, Bed Bath and Beyond filed for Chapter 11 bankruptcy protection. The company said it plans to liquidate and close all locations, but that could change in a buyer is found.
The home goods chain fought for some time to avoid bankruptcy amid a large debt load. It implemented a turnaround plan, but Sunday’s filing indicated that it was not successful.
Customers were informed in an email sent by Bed Bath and Beyond on Sunday morning that it will recognize coupons through April 26, accept gift cards through May 8, and process returns or exchanges for merchandise bought before Sunday until May 24.
“The company’s 360 Bed Bath and Beyond and 120 Buybuy Baby stores and websites will remain open and continue serving customers as the company begins its efforts to effectuate the closure of its retail locations,” a statement said.
“We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process. We will continue working diligently to maximize value for the benefit of all stakeholders,” company CEO and President Sue Gove said in a Sunday statement.
Axios reported Bed Bath and Beyond’s closing would be among the largest retail closures of the past 15 years.
Bed Bath and Beyond operates nearby locations in Hamilton Township, New Jersey; Warrington; and several in Montgomery County.
