Large US Retailer Files for Chapter 11 Bankruptcy

Large US Retailer Files for Chapter 11 Bankruptcy


A former retail fixture for millions of Americans will soon fade away now that Bed Bath & Beyond has filed for reorganization under Chapter 11 of the federal bankruptcy laws.
In its bankruptcy filing, the company said it had $4.4 billion in assets and $5.2 billion in debt, according to CNN.
The company announced in a release that it was able to secure enough financing to close its stores and wrap up operations. No end date for store operations was announced.

Consumers who have the company’s 20 percent off coupons can use them  Sunday, Monday and Tuesday, according to CNN.
As of Wednesday, however, the iconic coupons will no longer be accepted. Instead, Bed Bath & Beyond will have a mammoth going-out-of-business sale and promises m …

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