Bed Bath & Beyond files for bankruptcy. What to know about Arizona store closures, coupons

Bed Bath & Beyond, a household name in the home goods retail industry, has filed for bankruptcy protection after grappling with financial challenges and multiple unsuccessful turnaround efforts.

The retailer filed for bankruptcy on April 23 in a New Jersey court, with plans to gradually wind down its operations and search for a buyer to acquire some or all of its assets. The 360 Bed Bath & Beyond and 120 Buy Buy Baby stores, along with their websites, will continue operating as the closure process begins.

The upcoming closures will impact hundreds of employees and loyal customers in Arizona, with thousands more affected nationwide. Previously the retailer had made plans on closing several locations in the Valley and across the state.

Now, communities who relied on Bed Bath & Beyond as an employer will need to find opportunities elsewhere with looming closures to come.

Bed Bath & Beyond has secured $240 million in financing from Sixth Street Specialty Lending Inc. to maintain operations during the bankruptcy process. The company has expressed its commitment to customers, employees and partners during this difficult period.

More: Another Bed Bath & Beyond in metro Phoenix is closing: Here's the list of AZ closures

Despite these efforts, sales continued to decline, dropping 40% to 50% during the holiday season.

Since issuing a bankruptcy warning in January, Bed Bath & Beyond has explored numerous strategies to obtain the necessary funding, including store closures, job cuts and reaching out to banks and investors for support. The retailer defaulted on some of its loans, prompting lenders to withdraw credit.

Bed Bath & Beyond then pursued last-resort deals to stay afloat, such as selling more shares, requesting rent breaks from landlords, and having another company pay for its merchandise. In mid-April, the stock price plummeted to a mere 24 cents.

Can I use my coupons at Bed Bath and Beyond still?

Starting April 26, they will no longer accept coupons and discounts, and all sales will be final. Gift cards will remain valid until May 8.

How many Bed Bath and Beyond stores are closing in Arizona?

All 360 Bed Bath & Beyond and 120 Buy Buy Baby stores, along with their websites, will continue operations for now. The company has not announced a formal wind down process.

In Arizona, the 13 Bed Bath and Beyond stores and three buybuyBaby locations will remain in business as usual until it comes time to close their doors.

Here's a list of all the Bed Bath and Beyond stores in Arizona

• Arrowhead (buybuyBABY): 7375 West Bell Road, Peoria, AZ 85382

• Avondale: 10060 West McDowell Road, Avondale, AZ 85323

• Chandler: 3445 West Frye Road, Chandler, AZ 85226

• Chandler Pavilion: 850 North 54th Street, Chandler, AZ 85226

• Chandler (buybuyBABY): 2640 West Chandler Boulevard, Chandler, AZ 85224

• Gilbert: 2793 South Market Street, Gilbert, AZ 8529

• Glendale: 7340 West Bell Road, Glendale, AZ 85308

• Mesa: 837 North Dobson Road, Mesa, AZ 85201

• Phoenix: 7000 East Mayo Blvd, Phoenix, AZ 85054

• Camelback Colonnade: 1919 East Camelback Road, Suite 128, Phoenix, AZ 85016

• Prescott: 3250 Gateway Boulevard, Suite 508, Prescott, AZ 86303

• Scottsdale (buybuyBABY): 10080 North 90th Street, Scottsdale, AZ 85258

• Surprise: 13723 West Bell Road, Surprise, AZ 85374

• Crossroads Festival: 4811 East Grant Road, Tucson, AZ 85712

• Tucson: 6310 North Oracle Road, Tucson, AZ 85704

• Yuma–1212 South Castle Dome Avenue, Yuma, AZ 85365

This article originally appeared on Arizona Republic: Are all Bed Bath & Beyond stores closing in Arizona? What to know