This weekend Bed Bath & Beyond filed for bankruptcy protection, a long-awaited event that retail landlords have been preparing for for months.
The retailer's 360 Bed Bath & Beyond and 120 Buy Buy Baby stores and websites will remain open and continue serving customers as it "begins its efforts to effectuate the closure of its retail locations," it said in a filing.
It plans to begin liquidating the stores immediately, though the company also said it's also searching for a buyer for some or all of its assets. Bed Bath & Beyond expects all sales to be completed and the properties vacated by June 30.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
