![]() ![]() “We had witnessed the department store shakeout and knew that specialty stores were going to be the next wave of retailing,” co-founder Leonard Feinstein reportedly said in 1993. Unlike department stores, it didn’t rely on sales events to draw customers. Stores were a fixture for shoppers around the winter holidays and during the back-to-school and college seasons, and Bed Bath & Beyond also had a strong baby and wedding registry business.įounded in 1971 by two veterans of discount retail in Springfield, New Jersey, the chain of small linen and bath stores - then called Bed ‘n Bath - first grew around the northeast and in California selling designer bedding, a new trend at the time. Plus, the open-store layout encouraged impulse buying: Shoppers would come in to buy new dishes and walk out with pillows, towels and other items.īed Bath, once a retail pioneer, was slow to adapt to changes in consumer habits. Brands coveted a spot on Bed Bath & Beyond’s shelves, knowing it would lead to big sales. The retailer attracted a broad range of customers by selling name brands at cut-rate prices. The blue-and-white coupons became something of a pop culture symbol, and millions of Americans wound up stashing them away in their cars, closets and basements. Those companies, too, ultimately filed for bankruptcy.īed Bath & Beyond became known for pots and pans, towels and bedding stacked from the floor to the ceilings at its cavernous stores - and for its ubiquitous 20%-off coupons. Here’s how Bed Bath & Beyond, once a retailer pioneer, veered to the edge of bankruptcy and where it turns next.īed Bath & Beyond had been a crown jewel of the era of so-called “category killers”: chains that dominated a category of retail, such as Toys “R” Us, Circuit City and Sports Authority. If Bed Bath & Beyond comes up short in the current version of its turnaround plan, the likelihood of a liquidation increases. It will be a complicated turnaround and the company’s future remains uncertain. ![]() “Slow the cash burn is the name of the game for the next 6 to 12 months and allow the company to pivot into a profitable position.” “They are essentially doing a reorganization outside of bankruptcy court,” said Daniel Gielchinsky, an attorney at DGIM Law specializing in bankruptcy. Got a stash of Bed Bath & Beyond coupons? You'd better use them soon A Bed Bath & Beyond coupon is seen on January 6, 2023. ![]()
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