Bed Bath & Beyond files for bankruptcy, stores remain open

Bed Bath & Beyond — one of the original big box retailers — has filed for bankruptcy protection, following years of dismal sales and losses and numerous failed turnaround plans.

The beleaguered national home goods chain, which includes stores in East Northport, Lake Grove, Oceanside, Riverhead, Westbury and West Babylon, made the filing Sunday in U.S. District Court in New Jersey.

It said it will start an orderly wind down of its operations, including eventually closing its stores, while seeking a buyer for all or some of its businesses. For now, its 360 Bed Bath & Beyond stores and 120 Buy Buy Baby stores as well as websites will remain open to serve customers. A lone Buy Buy Baby remains open on Long Island in Garden City.

Bed Bath & Beyond listed estimated assets and liabilities in the range of $1 billion and $10 billion. The move comes after the company failed to secure funds to stay afloat. 

There was little sign of the bankruptcy declaration at the Riverhead Bed Bath & Beyond Sunday. Customers shopped as usual, and a sign posted out front advertised that the store was hiring.

Martha Cohen Weinstein, a retired New York City teacher with a home in Westhampton Beach, was there shopping for sheets Sunday afternoon, although she said she rarely goes there anymore. 

"You can get most of this stuff in the supermarket," she said.

In a statement, the company based in Union, New Jersey, said it voluntarily made the filing "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."

The store closings will put thousands of jobs at risk.

Earlier this year, the company announced closures including the Bed Bath & Beyond stores in East Northport and West Babylon. A representative of the company did not say when the remaining stores would close. 

The company also said it would close six Harmon Face Values stores on Long Island — in Carle Place, Commack, Massapequa, Melville, Mineola and Plainview.

Recently shuttered Bed Bath & Beyond stores on Long Island include one in Farmingdale, which closed in 2022.

Eric Manser said he stopped at the Riverhead store on Sunday in a futile attempt to find a vegetable slicer. The 88-year-old Calverton resident said he will buy it online instead.

“I don’t have to waste money on gas," Manser said. "I don’t have to deal with the hassle of going to the store."

In an email to customers, the company laid out several changes:

• Stores will no longer accept coupons or other rewards or discounts as of Wednesday.
• Returns for items purchased before April 23 will be honored until May 24, and gift cards, gift certificates and loyalty certificates will be accepted through May 8.
• The company expects that "all in-stock orders placed online both prior and after our bankruptcy filing to be fulfilled at this time." 
• Registry data can be viewed "at this time," the email said. "We expect to partner with an alternative platform where you will be able to transfer your data and complete your registry. We will provide details in the coming days." 

With AP

By Vera Chinese

vera.chinese@newsday.com@VeraChinese

Vera Chinese joined Newsday in 2017 after working as an editor for the East End lifestyle publication northforker and a general assignment reporter for the New York Daily News.