For the time being, its stores will remain open and continue to serve customers throughout the U.S.
Home good retailer Bed Bath and Beyond has filed for Chapter 11 bankruptcy.
The company has been unable to secure the funds it needed to stay afloat.
The big-box store has seen sales dwindle over the past decade, as it has not been able to sell more store-branded products.
Last year, the business decided to switch strategies, opting to bring in more national brands that shoppers may have recognised, but it wasn’t enough.
The company reported a loss of almost $400 million for the third quarter.
For the time being, its stores will remain open and continue to serve customers throughout the U.S.
