Bed Bath & Beyond Responds to Rumors: Is a Comeback on the Horizon?

According to The Sun, Bed Bath & Beyond has finally addressed the growing calls from customers urging the retailer to make a return after its tumultuous past. The once-popular chain filed for Chapter 11 bankruptcy in April 2023, marking a significant downturn for the brand.

Financial Troubles and Bankruptcy Filing

Since 2004, Bed Bath & Beyond spent approximately $11.8 billion to buy back its shares, leaving the company with considerable debts. This financial burden, compounded by high inflation rates, rising interest costs, and supply chain disruptions during the COVID-19 pandemic, ultimately led to its bankruptcy filing, as reported by The Wall Street Journal.

In the aftermath, the retailer began closing its remaining 360 brick-and-mortar stores, along with 120 buybuy Baby locations, as part of its liquidation process.

Acquisition by Overstock

During the bankruptcy proceedings, Bed Bath & Beyond’s name, domain, and loyalty program were acquired by Overstock for $21.5 million. Following the acquisition, Overstock rebranded itself as Beyond Inc, which now encompasses several retailers, including Zulily and Backyard.

No Physical Stores, But a New Direction

Recently, rumors suggested a possible comeback of Bed Bath & Beyond brick-and-mortar stores through Beyond Inc. However, a spokesperson clarified to The U.S. Sun that this would not be happening. “We will not be opening physical retail stores of our own,” they stated in an email.

Instead, Beyond Inc. plans to bring back a “Bed Bath & Beyond branded assortment” through a new global licensing program. This initiative will allow the company to sell Bed Bath & Beyond branded textile goods through various retailers, including mass-market, off-price, and online marketplaces.

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Fresh Products and Exciting Offerings

While physical stores may not return, customers can still look forward to accessing the branded assortment through online platforms and participating physical stores. The upcoming products will focus on four core pillars: the bedroom, the bathroom, the kitchen, and the patio. The exact timeline for product availability remains unclear.

Marcus Lemonis, executive chairman of Beyond Inc, emphasized that the new Bed Bath & Beyond assortment would be affordable for customers. “We’re thrilled to bring the beloved Bed Bath & Beyond brand back to life in this new and exciting way,” he remarked. Lemonis added that the brand aims to reflect aspirational yet attainable values through quality goods.

Customer Reactions and Expectations

The news of a branded assortment has garnered mixed reactions from customers. Many have expressed excitement at the prospect of Bed Bath & Beyond returning in any capacity, while others remain skeptical. “I’ll believe it when I see it,” noted one shopper, while another lamented, “I miss this store!!”

Broader Retail Landscape

Bed Bath & Beyond is not alone in facing financial hardships this year. Other prominent retailers, including Big Lots and LL Flooring, have also filed for bankruptcy, leading to a wave of store closures across the nation.