What Bed Bath and Beyond's Bankruptcy Filing Means For Your Coupons

After years of flirting with the idea, retailer Bed Bath &amp; Beyond has finally filed for bankruptcy. The chain has over 360 locations and 120 Buy Buy Baby stores that it plans to keep open for now — but there are ramifications for shoppers. Cheddar News senior reporter Chloe Aiello breaks down the fallout including whether or not customers will be able to use coupons and gift cards.&nbsp;

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What Bed Bath & Beyond's Bankruptcy Means For You

Although it might seem like bed bath and beyond has been its death rows for a while. The retailer finally filed for bankruptcy on Sunday. Bed Bath and beyond currently has about 360 stores. Its buy buy baby brand has 120. Those will stay open for now and its website will remain online but store closing sales will kick off on Wednesday now for customers and fans, there are some key dates to keep in mind the store will no longer accept coupons. After April 25 you do have a little longer for gift cards until May eight returns and exchanges meanwhile will be processed through May 24. The fate of bed bath and beyond brick and mortar locations and 14,000 employees will depend on what happens next. Filing for bankruptcy protection doesn't necessarily mean a company is going out of business. It's a strategy often used to eliminate debt and costs that are crippling the business. If a company finds a buyer, it will likely halt store closures. But there's a possibility that bed bath and beyond could liquidate and close down entirely if it does survive. Experts say the business's future will look quite different bed bath and beyond. Meanwhile, has not returned Che's request for comment and beyond has been warning of a possible bankruptcy since January, it announced a stock offering in February, that was meant to help avoid bankruptcy with a $1 billion capital injection. But it brought in just a fraction of that. The company announced another failed offering in March. But prior to that bed Beth and beyond has been declining for some time driven by competition and the rise of e commerce be Beth and beyond used to be referred to as a quote category killer, meaning it dominated a certain category of retail, home goods. In this case, other category killers include toys R US and Sports Authority which as you know, both filed for bankruptcy. Bebe and beyond was known for massive stores with kitchen supplies, betting, decor and appliances, crowding every corner. It was known for its coupons that earned pop culture recognition. Any broad city fans out there will remember Abbey was famously a bed bath and beyond devotee, but retail is a hyper competitive field and bed bath and beyond was slow to adapt. I interviewed Neil Saunders from global data retail before bed bath and beyond bankruptcy. Here's Neil retail since the very early days of time has been in a period of evolution. It reacts and responds to customer trends to economic trends to a whole host of things. So it's always changing. I think the difference is now that the pace of change is much faster, things change at a much more rapid pace. If you don't get things right. If you don't align yourself with the customer, you will fail a lot more quickly. Amazon and similar competitors killed the category killers because they brought the bed bath and beyond experience online. Now you can browse everything that bed bath and beyond has online. Plus so much more in order to compete in brick and mortar. These days, a company needs to pivot successful big box retailers like dick sporting goods and target have successfully evolved by embracing omni channel solutions and immersive retail experiences.