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Bed Bath & Beyond began the year in a precarious position. In January, the struggling retailer revealed that it could not afford to pay its debts and that it had "substantial doubt" about its future. After a few months of trying to keep its business afloat amid financial woes, Bed Beth & Beyond revealed that it was not able to change course. The retailer has now declared bankruptcy—and shoppers are already wondering what this means for them. Read on to find out when your Bed Bath & Beyond coupons will stop working.
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Bed Bath & Beyond just declared bankruptcy.
Shutterstock/KenishirotieAt the beginning of the year, Bed Bath & Beyond warned that a bankruptcy filing might be on the horizon thanks to its ongoing financial challenges. And now, it has followed through on that warning.
On April 23, Bed Bath & Beyond Inc. announced that it had filed for Chapter 11 bankruptcy in the U.S. District Court of New Jersey. This voluntary filing is meant to "implement an orderly wind down of its business," according to a press release from the company.
"Millions of customers have trusted us through the most important milestones in their lives—from going to college to getting married, settling into a new home to having a baby. Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuy Baby," Bed Bath & Beyond Inc. President Sue Grove said in a statement. "We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process."
The company is expected to close all of its stores this summer.
acarter89 / ShutterstockBed Bath & Beyond has been steadily closing stores over the last year, including its entire Harmon drugstore brand. But the company still has 360 Bed Bath & Beyond and 120 buybuy Baby stores open right now. These locations and the two brand's websites "will remain open and continue serving customers as the company begins its efforts to effectuate the closure of its retail locations," according to the April 23 press release.
As explained in the Chapter 11 filing, however, Bed Bath & Beyond expects that the remaining 475 brick-and-mortar stores will close for good by June 30.
Your coupons will stop working sooner than that.
ShutterstockYour Bed Bath & Beyond coupons will no longer be useful well before the stores close this summer.
As stated in its Chapter 11 filing, the company created "what has been heralded as one of the greatest retail coupons of all time." But now, the famous 20 percent-off Bed Bath & Beyond vouchers have an expiration date—and this time, they're actually sticking to it.
According to the company's website, your stash of coupons will become ineffective in just a couple days.
"We anticipate that we will stop accepting coupons on April 26, 2023," Bed Bath & Beyond states in a FAQ section about its Chapter 11 filing.
In a statement to Best Life, a spokesperson for the company confirmed, "We will no longer accept coupons or Welcome Rewards+ discounts beginning April 26, 2023. We thank our loyal customers for bringing us into their lives and encourage them to visit us in-store and online to shop our closing sales."
Bed Bath & Beyond is planning to conduct sales at its remaining stores.
ShutterstockBed Bath & Beyond says coupons will no longer be accepted while the company conducts store-closing sales, which are expected to start on April 26. So while you may not be able to apply a 20 percent-off coupon to your order, you will have access to "deep discounts," according to the retailer.
"We encourage you to come shop for your favorite products while merchandise selection is best," Bed Bath & Beyond states on its website.
Just don't flock to these sales without a plan. The company says that it will not accept returns and exchanges for any items bought after April 26. "All purchases during our store closing sales will be final," Bed Bath & Beyond explains in its FAQ section.
However, the Bed Bath & Beyond spokesperson clarified to Best Life that, "Returns and exchanges will be processed in accordance with our usual policies until May 24 for items purchased prior to April 23, 2023."
