The company, which sold everything from shower curtains to vacuums, filed for relief under Chapter 11 at the United States Bankruptcy Court for the District of New Jersey.
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Bed Bath & Beyond had been a fixture on Fortune 500’s list of biggest American companies for years. However, the company’s financial troubles began to grow as online shopping continued to dominate the retail market. Despite several efforts to restructure the company, which included closing 150 underperforming stores in 2022, the company was unable to turn its finances around.