Home goods retailer Bed Bath & Beyond Inc. and its buybuyBaby stores are liquidating in Northeast Florida starting with 10% off sales.
Those stores posted signs on their doors but there were no banners of clearance sales on the buildings as of April 27.
The chain’s 20% coupons are no longer accepted. Loyalty points, gift cards, gift certificates and merchandise credit is accepted through May 8.
Signs inside the stores add that purchases made before April 26 may be returned through May 24 subject to return policy terms.
All sales on or after April 26 are final and no returns can be accepted on those.
There are three Bed Bath & Beyond stores in Northeast Florida in Jacksonville, Jacksonville Beach and St. Augustine. The company also operates a buybuyBaby in Jacksonville.
The Bed Bath & Beyond stores are at 4054 S. Third St. in the South Beach Regional shopping center in Jacksonville Beach; at 320 Cobblestone St. in Cobblestone Village in St. Augustine; and at 8801 Southside Blvd. in Timberline Village in Jacksonville. The buybuyBaby store also is in Timberlin Village.
The Union, New Jersey, company said April 23 it filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey “to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.”
Bed Bath & Beyond announced that its 360 Bed Bath & Beyond and 120 buybuyBaby stores and websites will remain open and continue serving customers as the company “begins its efforts to effectuate the closure of its retail locations.”
While the company has started a liquidation sale, Bed Bath & Beyond said it intends to use the Chapter 11 proceedings to conduct a limited sale and marketing process for some or all of its assets.
The company said it has filed motions with the court seeking authority to market Bed Bath & Beyond and buybuyBaby as part of an auction while “strategically managing inventory to preserve value.”
“In the event of a successful sale, the company will pivot away from any store closings needed to implement a transaction. The company believes this dual-path process will best maximize value,” the release said.
Bed Bath & Beyond stores already closed in River City Marketplace in North Jacksonville and at 6001-24 Argyle Forest Blvd. in West Jacksonville. Those were part of the company’s 87 stores nationwide it announced Jan. 30 it would close.
The company said in early January it was considering bankruptcy after worse-than-expected sales. The company said Jan. 10 it lost $393 million during the fiscal third quarter, worse than the $385.8 million quarterly loss it had projected, according to reports.
Bed Bath & Beyond said April 23 that it intends “to uphold its commitments to customers, employees, and partners, including continued payment of employee wages and benefits, maintaining customer programs, and honoring obligations to critical vendors.”
The release said that in late 2022, the company “initiated a significant turnaround plan to reset foundational elements of its operational and financial positioning to better serve customers, employees, and supplier partners.”
It said it took action to improve merchandise assortment, streamline the supply chain and optimize its store footprint.
Bed Bath & Beyond Inc. has retained Hilco Merchant Resources LLC to assist with inventory sales.
