Bankruptcy forces closure of California Bed Bath & Beyond stores, including in north Fresno
Home goods retailer Bed Bath & Beyond announced on Sunday it has filed for bankruptcy and will be closing all of its stores, including a location on Blackstone Avenue in Fresno, across from the River Park Shopping Center.
The process will begin on Wednesday as the company seeks a buyer for all or some of its businesses. All stores expected to be closed and emptied by June 30.
The news was not completely unexpected.
In a business update in January, the company said it was anticipating a net loss of approximately $385.8 million for the third quarter of fiscal 2022 and that is was considering “all strategic alternatives including restructuring or refinancing its debt, seeking additional debt or equity capital,”and “obtaining relief under the U.S. Bankruptcy Code.”
“These measures may not be successful.”
Last winter, Bed Bath & Beyond closed 87 stores and began closing Harmon, its discount beauty supply chain.
According to a FAQ on the company’s website, the store will begin closing sales on Wednesday, and encourage people to “come shop for your favorite products while merchandise selection is best.” Store coupons will not be accepted once the sales have begun.
All sales will be final, obviously.
In-stock online orders are expected to fulfilled, and returns and exchanges on items bought before Wednesday will be accepted (per usual policies) until May 24. Store gift cards will be accepted until May 8 and merchandise credits can be redeemed until May 15.
