Investment News 25-04-2023 03:22 12 Views

Here’s how Bed Bath & Beyond’s bankruptcy affects sales and coupons

Bed Bath & Beyond filed for Chapter 11 bankruptcy Sunday, with plans to wind down its entire business.

The beleaguered company has laid out what the action means for its customers in an online FAQ page.

Will Bed Bath & Beyond stores and its website remain open?

Yes, for now. The company’s remaining 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as the company winds down its business and seeks a buyer for its remaining assets.

When will final store sales begin?

On Wednesday. ‘We encourage you to come shop for your favorite products while merchandise selection is best,’ the company said. All store closing sales will be final.

How about product returns?

Any items purchased before Wednesday can be returned or exchanged until May 24. Any items purchased on Wednesday — the start of its closing sales — or after will be final. 

What to know if you’re registered with Bed Bath & Beyond or buybuy BABY

The company says it expects to partner with an alternative platform where registry information will be transferred. More details are expected in the coming days, it said.

‘Your registry data is safe. While registry items can no longer be purchased through our platform, you can still view your registry at this time,’ the company said.

Using Bed Bath & Beyond coupons and rewards points

Customers can redeem Bed Bath & Beyond ‘Welcome Rewards’ until May 15. However, the company is no longer awarding points for purchases.

Stores will stop accepting coupons Wednesday.  

Customers can use gift cards through May 8.

And customers can redeem merchandise credits until May 15.

Welcome Rewards+ store credit cards can continue to be used ‘at this time,’ Bed Bath & Beyond said.

‘We encourage you to shop your favorite products at deep discounts during our store closing sales, starting April 26, 2023,’ the company said.  

Can you cancel your membership for a refund? 

No. ‘While your membership is not eligible for a refund, you can continue to enjoy your membership benefits before our store closing sales begin on April 26, 2023,’ the company told customers.

Will employees continue to be paid?

Yes. Wages and benefits will be honored as the company completes the bankruptcy process.

How to find more information

You can find more information, including answers to some frequently asked questions, here. Bed Bath & Beyond stakeholders who have questions can email or call at (833) 570-5355 or (646) 440-4806 if calling from outside the U.S. or Canada.

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