Bed Bath & the great Beyond: How the home-goods giant went bankrupt
April 24, 2023 11:23AM EDT
The entrance to a Bed Bath & Beyond store is seen in Anchorage, Alaska, on Sunday, April 23, 2023. One of the original big box retailers, the company filed for bankruptcy protection on Sunday, following years of dismal sales and losses and numerous failed turnaround plans. (AP Photo/Mark Thiessen)
Over the weekend, Bed Bath & Beyond announced it was going out of business and would close its 360 stores.
So what happened? Former executives say the company “missed the boat” on the internet, promoting “offline shopping” as recently as 2019. There was also a disastrous attempt to replace brand-name goods with store brands like Everhome and Nestwell – a move that led to the ouster of the company’s CEO and founders. Finally, there’s the pandemic – which drastically cut store traffic at a time when it was already struggling.
Area Bed Bath & Beyond locations:
- 6142 Wilmington Pike Dayton, OH 45459
- 5800 Deerfield Boulevard Mason, OH 45040
- 2719 Edmondson Road Cincinnati, OH 45209
- 1717 West Lane Avenue Upper Arlington, OH 43221