Moving On From Inevitable Demise of Bed Bath & Beyond Still Hurts
HomePage NewsApr 24, 2023
Home goods retail giant Bed Bath & Beyond filed for Chapter 11 bankruptcy protection Sunday, ending a tumultuous period that saw the company cut jobs and close stores to stay afloat.
The company’s 360 locations, 120 buybuy BABY stores, and associated websites will remain open for now, as it has secured a $240M loan to help fund its operations during bankruptcy.
Bed Bath & Beyond’s downfall is as sad as it was predictable. Unfortunately, the retail market has completely changed over the past few decades, and it's extremely difficult for an unwieldy brick-and-mortar store to compete in today’s world. There may have been decisions the company could have made to ensure its viability, but those moves needed to be made many years ago. The nostalgic "home goods store" has been on an inevitable path to insolvency over the past several years.
Bed Bath & Beyond’s demise is no one’s fault but its own. Some may lament the store’s death as the inevitable 21st-century tragedy of a large retailer, but that's not the case. The company made the wrong move at every turn and had countless opportunities, as recently as last year, to save itself. No one is saying the retail market is booming, but a titan of the industry like Bed Bath & Beyond could’ve weathered the storm with better management.