Bed Bath & Beyond files for bankruptcy, plans to close stores

Bed Bath & Beyond filed for bankruptcy on Sunday.

The company’s 360 locations, will remain open for now, as will websites. The company secured a $240 million loan to help fund its operations during bankruptcy.

But store closing sales will begin Wednesday, and Bed Bath & Beyond will close some stores. Just how many depends on what happens next.

The company says customers will have Monday and Tuesday to use their remaining 20% off coupons. The company will stop accepting them Wednesday. Instead, Bed Bath & Beyond expects to offer "deep discounts" on its products as part of its going-out-of-business sales.

Profits for the company took a hit after stores closed for months because of the pandemic. The company has been trying to cut costs by closing more than half of its stores.