Bed Bath & Beyond stores across the New York area, and America, began their closing sales Wednesday, days after filing for bankruptcy protection amid failed efforts to turn around its finances.
The beleaguered New Jersey-based home goods chain made the filing Sunday in U.S. District Court and said it would start an orderly operational wind-down while seeking a buyer for all or some of its businesses.
In the bankruptcy filing, Bed & Bath said it anticipates closing all of its stores by June 30. For now, the company's 360 stores and its 120 buybuy BABY locations, as well as its websites, will remain open to serve customers.
One of the original big box retailers known for its seemingly endless offerings of sheets, towels and kitchen gadgets, Bed & Bath had warned it was in dire straits for months. Here's what loyal customers should know about the bankruptcy and implications for store closings, as well as unused coupons and gift cards.
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STORES
Bed Bath & Beyond stores -- three in Connecticut, 13 in New Jersey and 20 in New York state (four in NYC) -- start closing sales Wednesday. To see a list of tri-state Bed Bath & Beyond stores and their hours, click here.
Buybuy BABY stores are also closing -- and launching sales Wednesday. That includes one store in Connecticut, eight in New Jersey and five in New York. To see a list of buybuy BABY stores, click here.
WORKERS
Recently, at a popular Bed Bath & Beyond in New York City, a since laid-off staffer told CNBC that workers were standing around not knowing what to do after the company cut off in-store pickup and deliveries at that location.
The worker was told liquidators would be coming the following day, and soon learned they wouldn't receive severance after more than two decades with the company.
"It was just so fast," the worker told CNBC.
Meanwhile, in the New Jersey cities of Secaucus, Port Reading and Union, Bed Bath & Beyond laid off upwards of 1,000 workers in late March and early April. These staggering layoffs happened just before a law went into effect that requires companies with 50 or more workers to provide severance pay during mass layoffs.
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Bed Bath & Beyond posted FAQs for information about the impact the bankruptcy filing has on customer programs and other policies. Below are some of the answers to frequently asked questions:
FAQs
CAN YOU STILL SHOP IN STORES? Bed Bath & Beyond and buybuy BABY stores remain open and will continue to operate as the liquidation process unfolds.
WHEN WILL STORE CLOSING SALES START? Store closing sales start on Wednesday, April 26.
CAN YOU STILL SHOP ONLINE AND USE THE BED BATH & BEYOND/buybuy BABY APP? Yes.
WILL AN ORDER PLACED ONLINE BE DELIVERED? At this point, all in-stock orders are expected to be fulfilled.
WILL SALES BE FINAL? WILL RETURNS BE ACCEPTED? Returns and exchanges will be accepted for items purchased before April 26 -- as per usual policies -- until May 24. However, all purchases during store closing sales will be final.
CAN YOU STILL EARN AND REDEEM WELCOME REWARDS? Customers can redeem Welcome Rewards until May 15. However, Welcome Rewards are no longer being awarded.
WILL GIFT CARDS STILL BE ACCEPTED? Gift cards will be accepted through May 8.
WILL COUPONS STILL BE ACCEPTED? Coupons are expected to be accepted until April 26.
WILL REGISTRIES WITH BED BATH & BEYOND/buybuy BABY REMAIN ACTIVE? Registry data is expected to remain safe as the company partners with an alternative platform to transfer data and complete registries. Additional information will be made available in coming days.
FOR ADDITIONAL INFORMATION: Additional Frequently Asked Questions can be found at https://restructuring.ra.kroll.com/bbby. Stakeholders can email BBBYInfo@ra.kroll.com or call at (833) 570-5355 or (646) 440-4806 if calling from outside the U.S. or Canada.
