Bed Bath & Beyond, Inc. announced in a press release on Sunday that the company is filing for Chapter 11 bankruptcy protection, a decision which will shutter the company’s 360 remaining storefronts, as well as the 120 total Buy Buy Baby locations across the country.
The liquidation will close 17 Bed Bath & Beyond stores across the state, 10 of which are located in the metro Atlanta area. That will equal the loss of hundreds of full-time and part-time retail jobs in metro Atlanta.
“Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, settling into a new home to having a baby. Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and Buy Buy BABY,” said president and CEO of Bed Bath & Beyond, Inc., Sue Gove, in the press release. “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.”
Bed Bath & Beyond reportedly employed approximately 32,000 workers nationwide in early 2022, a number cut almost in half since its 2019 total of roughly 62,000 employees. The company sliced its employment in half once again over the past year, with Bed Bath & Beyond currently employing 14,000 full-time and part-time workers, according to the court filing documenting the bankruptcy and liquidation.
Bed Bath & Beyond closed nearly 700 stores since 2019, as well, 150 of which were announced to close this past February.
The company’s bankruptcy filing will impact thousands of employees across the U.S., along with an estimated several hundred positions in the metro Atlanta area.
Despite the liquidation, customers will still be able to purchase goods inside Bed Bath & Beyond and Buy Buy Baby locations until stores shutter permanently. Until May 24, locations will accept returns on merchandise purchased before closing sales begin on April 26. The company will also allow usage of coupons and gift cards when paying for merchandise, until April 26 and May 8, respectively. Welcome Rewards are also redeemable until May 15.