More bad news is coming in for retailer Bed, Bath and Beyond. The retailer is filing for Chapter 11 bankruptcy and points to the COVID-19 pandemic that closed its stores for several months one of the reason for its low cash flow. The company already announced a plan to close several stores including one in Upland at the beginning of 2023. Now all stores are expected to close by June 30th. The company is hoping a buyer will be able to come in and keep its stores open.
Bed, Bath and Beyond has 360 stores nationwide. The company also owns 120 buybuy Baby stores which will also close.
“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 buybuy BABY. 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,” said Sue Gove, President & CEO of Bed Bath & Beyond Inc.
Inland Empire locations include Rancho Cucamonga, Riverside, Redlands, Apple Valley, Murrietta and Beaumont.