Bed Bath & Beyond Files for Bankruptcy With Plan to Shut Stores

Bed Bath & Beyond Inc. filed for Chapter 11 bankruptcy in New Jersey with plans to shut down, putting thousands of jobs on the line.

The US housewares retailer will use the court process to begin liquidating its 360 Bed Bath & Beyond stores and 120 Buy Buy Baby shops, while also searching for a buyer for some or all of its assets, according to a statement. The company may “pivot away” from the store closings if there’s a successful sale.

Bed Bath & Beyond estimated it had assets of $4.4 billion and total debt of $5.2 billion as ...