An Iconic Home Store May Soon File For Bankruptcy

The last few years haven't been great for home goods chain retailers. In early 2020, Pier 1 closed half its stores, eventually becoming an online-only retailer. During the same year, Bed Bath & Beyond shuttered 200 stores, and have continued to do so since then. But unfortunately, it appears the company has hit a wall, as it may file for bankruptcy soon.

According to a Yahoo! News article, the sales at Bed Bath & Beyond have been dropping since 2018. The retailer is also expecting a loss of $385 million in its third quarter of 2022.

These losses have occurred even after the company remodeled and refurbished its stores. Per a previous Yahoo! News article, Bed Bath & Beyond was rebranded in 2021. This involved "physical and digital emerging" to create a modern experience for its customers.

Considering Bed Bath & Beyond has been around since 1971, it's a bummer to think that the store may be closing soon. But on the other hand, the news isn't surprising. Over the last few years, people have shifted away from chain retailers and shopping at more independent, mindfully-driven companies. And even then, when folks do shop for home goods, many swing by one-stop shops such as Walmart and Target.

Chris Hondros/Getty Images News/GettyImages

Needless to say, if you have a stash of Bed Bath & Beyond coupons, you might want to use them ASAP (or, at the very least, get them ready to go). According to CNN, if the company files for bankruptcy, the coupons may be honored for 30 days. But as the liquidation sales roll in, it might stop accepting coupons.

All that said, though we'll be sad to see Bed Bath & Beyond close, it will be worth checking out its liquidation sales. Personally, we have our eyes set on storage supplies as we