Consumer Law

Bed Bath & Beyond Files for Bankruptcy Protection

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection Sunday, ending a tumultuous chapter for the struggling home goods retailer.

The company had spent the past year announcing a series of job cuts and store closures as it looked for financing options to stay afloat.

The company said in a statement that “it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.”  

Read the source article at nbcnews.com

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