WEST BLOOMFIELD, Mich. (WXYZ) — We’re learning more about a massive shutdown involving Bed Bath & Beyond stores, which has already begun to take shape.
The company has filed for Chapter 11 bankruptcy and the news is being shared with their loyal customers. The parking lot would normally be full near Orchard Lake Rd. & 14 Mile, at Bed Bath & Beyond.
Instead, the store permanently closed their doors, and some shoppers showed up to get the news.
“I can’t tell you how disappointing and heartbreaking it is. Bed Bath & Beyond has been my favorite store. I have tablecloths for every holiday. All the napkins. Every pot and pan. Everything in my house is Bed Bath & Beyond.” says shopper Laura Saperstein.
Chapter 11 bankruptcy was announced Sunday. The decision impacts 360 locations plus 120 Buy Buy Baby stores. We’ve learned inventory is being liquidated. A letter has also been sent to give detailed updates on the policy involving gifts card and coupons. In the meantime, the future of 14,000 employees is unknown.
The company has stated they have more than 5 billion in debt. Many of their stores, also serve as the primary anchor for strip malls. Ultimately, customers we talked to feel the rise of online shopping has harmed the survival of brick-and-mortar stores.
“I just came to see the deals and ended up buying some glass wear and utensils. I just hate that it’s shutting down. It’s been a great store.” says shopper William Blakely.
“Everybody enjoyed all the coupons and looked forward to that. That’s what everybody is doing inside the store. Everyone is really lining up.” adds shopper Christi Stewart.
For more information on store plans, the letter below provides detailed updates:
