Bed Bath & Beyond has decided to file for bankruptcy, and the closing sales for all locations start on April 26.
The internet strikes again.
So, if you want to snag some discounted towels and candles, head on over to your local BBB before they close their doors for good.
So get on over to the Festival Center — that’s where our remaining store is, right?[just yesterday, we saw a vehicle riding around Mobile with a huge discount sign on the roof].
There are still 360 BBBs across the country still in operation, but the company’s efforts to keep the business afloat have been like throwing spaghetti at a wall.
And nothing is sticking.
Some retailers were already teetering on the brink of financial collapse, but they managed to catch a lucky break during the pandemic.
Not Bed Bath & Beyond.
So, now it’s focusing on liquidating its inventory and figuring out what will happen to its 14,000 employees.
I should also note that bankruptcy filing doesn’t always signal the end of a company.
In fact, many well-known companies have done so in the past and used it as an opportunity to get rid of debt.
Still, if BBB emerges out of this situation, what comes beyond is still clouded in uncertainty.
I can only imagine how its employees and stakeholders must be feeling right now.
Today, retail businesses need a unique angle. You need to visit in person to experience the products. Or, it can serve as a great showroom.
But if your retail store only serves as a place that sells a commodity, you’re still in danger.
For now, make a day of it and get yourself a good deal on some home products.
And we’ll see how it goes for this “category killer” chain store beyond its biggest setback yet.