This Is When You Have to Use Bed Bath & Beyond's Famous Blue Coupons By as Store Files for Bankruptcy
“We have made the difficult decision to begin winding down our operations,” the home store wrote on their website
Bed Bath & Beyond has officially filed for bankruptcy.
After 52 years in business, the retail chain filed for Chapter 11 bankruptcy this past Sunday with all stores slated to close by June 30, according to the filing. Its sister chain, Buy Buy Baby, which the home store acquired in 2007, will also be shutting down its business.
With store closures approaching across the country, customers have until the end of Tuesday, April 25, to redeem the company's famous blue coupons before they are deemed invalid.
"We will no longer accept coupons or Welcome Rewards+ discounts beginning April 26, 2023," a Bed Bath & Beyond representative confirmed to PEOPLE.
Related:Bed Bath & Beyond Closing 87 Stores in 30 States as Bankruptcy Filing Nears
The rep adds that while the company's policies may keep changing during this uncertain time, "We expect customers can continue to redeem gift cards through May 8, 2023." As for returns and exchanges, they will be "processed in accordance with our usual policies until May 24 for items purchased prior to April 23, 2023."
Meanwhile, the store has released a general statement to shoppers on its website: "Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations. Bed Bath & Beyond and Buy Buy Baby stores remain open to serve you."
More information about the company's closing process can be found in the Chapter 11 FAQ on their website.
Related:Bed Bath & Beyond to Close 150 Stores, Layoff 20% of Employees Amid Financial Struggles
In January, PEOPLE reported that the home store was preparing to file for bankruptcy after announcing the closure of 87 stores. The company had previously shut down 150 locations in August 2022.
The retail chain shared a business update on January 5, revealing that it had lost $385 million in the third quarter of 2022. In sales that quarter, the home store only made $1.2 billion — a significantly lower amount compared to the $1.8 billion made in the third quarter of 2021.
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In a statement at the time, CEO Sue Gove said that Bed Bath & Beyond had a "clear vision for the future" and had "strengthened [its] leadership team" to facilitate the "turnaround" needed.
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