BUFFALO, N.Y. — Bed Bath & Beyond filed for Chapter 11 bankruptcy Sunday, with plans to wind down its entire business.
The 50-year-old retail juggernaut seeks protection from creditors, listing liabilities close to one billion dollars.
Liquidation sales at its 360 stores across the country will begin on Wednesday, and the company has posted answers to a list of frequently asked questions, including what customers should know about items purchased, gift cards, reward programs, and gift registries.
Among other things, shoppers should know that starting Wednesday, merchandise sales will be final, with no returns. Gift cards will be accepted through May 8, and "Welcome Rewards" can be redeemed until May 15 (however the company is no longer awarding points for purchases).
Prior to the sales, news of the bankruptcy sent bargain hunters to local Bed Bath & Beyond outlets where several told 2 On Your Side that it ranked among their favorite stores.
As of Monday, two days prior to when sales are scheduled to begin, merchandise selection appeared plentiful inside the Hamburg store with a steady stream of customers at the checkout register.
Among the bargain hunters was Joan Cofield- Bridges, who left with a cartload of ceramic tea sets, which she'll use in her hand-painted glassware business.
"I loved this store, and am disappointed to see it close," she said.
"They also had great coupons, they gift-wrapped items for free and the customer service was excellent," said another, who also expressed disappointment with the closure of another brick-and-mortar store.
"I know sometimes online shopping is good, but you just don't get that one-on-one customer service when you go online," she said.