Which American home goods retailer, founded in 1971 in New Jersey, filed for bankruptcy in 2023?

Which American home goods retailer, founded in 1971 in New Jersey, filed for bankruptcy in 2023? The answer is Bed Bath & Beyond.

Bed Bath & Beyond began in 1971 in Springfield, New Jersey, founded by Warren Eisenberg and Leonard Feinstein. Originally called Bed ’n Bath, it focused on domestic merchandise and expanded its selection beyond bedding and bathroom goods. The company changed its name to Bed Bath & Beyond in 1987.

The retailer filed for Chapter 11 bankruptcy protection on April 23, 2023, in the U.S. Bankruptcy Court for the District of New Jersey. Its filing followed declining sales, heavy debt, supplier concerns and unsuccessful attempts to raise additional capital. The company liquidated its remaining stores, with the last locations closing in July 2023.

The original chain should not be confused with the later online business using the same name. Overstock.com bought the brand’s intellectual property in a bankruptcy auction and relaunched its website under the Bed Bath & Beyond name, while the original brick-and-mortar company ceased operations.