Loyal Bed Bath & Beyond NYC Customers ‘Devastated’ After Bankruptcy Filing

Metro

April 23, 2023 | 3:42 p.m

Shoppers at Bed Bath & Beyond in New York City were “devastated” by the home goods retailer’s filing for bankruptcy Sunday — and flocked to its Chelsea outpost to stock up on business ahead of its expected closing.

Many customers at the retailer’s store on Sixth Avenue lamented the blow to brick-and-mortar shopping — as the company will close its 360 Bed Bath & Beyond and 120 Bye Bye Baby stores following its Chapter 11 bankruptcy filing in New Jersey federal court.

“I’m devastated,” Steven Bonamassa, 41, told The Post, adding that he wanted to “stock up and stock up” on what he could before the store closed.

Bonamassa, a creative director who lives in Chelsea and runs stores regularly, lamented the loss of the once-popular retailer, suggesting online shopping may soon be the only option as physical stores close in the US.

“It’s a shame really, because … where are you supposed to find your bed? Where are you supposed to find all these things?

“What are our next generation of children going to do? Like Amazon. That’s it,” he said.

Along with the bankruptcy filing, the company noted that customers will be able to use their remaining 20% ​​off coupons at their stores on Sundays, Mondays and Tuesdays.

John Bloomfield, a 69-year-old private piano instructor, was among the shoppers trying to take advantage of the short window, rushing to the Chelsea store after his gift card failed to work online.

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“I got a gift card from a student and they filed for bankruptcy, so I better use it,” he said.

John Bloomfield looks for bargains in Bed Bath and beyond on Sunday.
John Rock
The retailer’s Sixth Avenue outpost in Chelsea will be among the 360s to close.
John Rock

Fellow shopper Elaine Robert, a real estate broker and artist who lives in Chelsea, said she wanted the store to “go for a long time” — but she wasn’t surprised it was closing.

She said of Bed Bath & Beyond. “And they don’t have a lot of stuff here, and they haven’t for a long time.”

He recalls a recent disappointment at the store when he wanted to buy a tea kettle but was told by staff that they had sold out of their stock of 20 and would not be ordering any more despite the product’s apparent popularity.

“They don’t know what they’re doing,” Robert said. “This is not good governance.”

Customers scoured the Chelsea store on Sunday amid the onslaught of bankruptcy.
John Rock
The once popular retailer was a go-to for home goods, but it has fallen on hard times.
AP

Another customer of the Chelsea store, a 55-year-old actress and former ballerina, who declined to give her name, told The Post that she misses Bed Bath’s generous 25% off events on Black Friday, her annual shopping ritual. .

“It’s very depressing to change,” said the Upper West Side resident. “I’ll miss it if they go, but I think they’ll come back. I don’t think they’re going to go away completely.

She added that she hopes Bed Bath will be around because “I don’t like shopping online.”

“I want to see it. I want to feel it. If it’s cheaply made, I want to feel its texture,” he said. “When you buy things online, it can break. It may not be what you thought it would be. And it is painful to send it back,” he said.

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The home goods retailer — which gained popularity in the 1990s as a shopping destination for wedding registries and couples planning new babies — has seen demand decline in recent years as its business strategy to sell more store-branded products has failed. .

Moves last year to abandon that strategy and bring in more national brands that shoppers recognize showed no signs of working, and the company reported a loss of about $393 million after sales fell 33% in the quarter ended Nov. 26.

In January, the company announced more than $500 million in new financing, as well as job cuts and 150 store closings, months after it cast doubt on its ability to continue as a going concern.


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