Bed Bath & Beyond announced it will begin liquidating stores and stop accepting its famous coupons after filing for bankruptcy.
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After years of financial struggles, the home goods retailer threw in the towel Sunday, announcing it is in the process of"winding down" across the nation. A message on theirnow reads:"Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations." The beleaguered home goods chain made the filing Sunday in U.S. District Court in New Jersey and said it will eventually close its stores, while seeking a buyer for all or some of its businesses. For now, the company's 360 Bed Bath & Beyond stores and its 120 Buy Buy Baby sites as well as its websites will remain open to serve customers. Bed Bath & Beyond said it secured a commitment of roughly $240 million in financing from Sixth Street Specialty Lending, Inc.
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