The company’s shares were worth about $2 in January, according to NBC News. ![]() Gove stepped in as interim CEO before taking over the role.īut the financial problems continued. Additionally, the message said workforce would be reduced “across our corporate, supply chain and store portfolio,” but did not include the specific number of layoffs.ĬNBC had previously reported in June 2022 that Bed Bath & Beyond’s shares had plummeted, and CEO Mark Tritton departed along with other top executives. In January, CNBC reported that employees were sent a memo that said the company’s chief transformation officer role had been eliminated. The bankruptcy news comes after the company began 2023 with a series of store closures and layoffs. “Through the filing of customary motions with the Court, the Company intends to uphold its commitments to customers, employees, and partners, including continued payment of employee wages and benefits, maintaining customer programs, and honoring obligations to critical vendors,” the statement read.īed Bath & Beyond said it has received $240 million from the investment firm Sixth Street Specialty Lending to help fund the bankruptcy process as it tries to sell some of its assets. The stores will remain open as Bed Bath & Beyond “begins its efforts to effectuate the closure of its retail locations,” the company said in the statement. However, the company assured Bed Bath & Beyond and buybuy BABY customers that they will still be able to purchase items. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey” in a statement April 23. The home goods retailer announced it had “filed voluntary petitions for relief under Chapter 11 of the U.S. However, customers will not be awarded Welcome Rewards on any future purchases following the bankruptcy announcement. The Welcome Rewards program will be up and running until May 15, meaning customers will be able to redeem points and merchandise credits. The company said they "expect" to accept returns and exchanges for items bought before April 26 up until May 24. Most enjoyable part of the job: chatting with coworkers as we do stock and freight.All purchases after April 26 will be final. Hardest part of the job: trying to get something done when customers expect anything from you, which happens most of the time. Only 25% of the managers are reasonable people though. Since they employ many college students, most of your coworkers are pretty nice to work with. You learn to keep your head down around over aggressive managers and use outdated computers to service the rudest and most needy customers you have ever met. From close to midnight-1 AM were the only enjoyable hours to work there as you can chat with coworkers as your work together without being bombarded by people too lazy to use common sense to locate an item or read what a product does. After store hours, I would do stock and freight. On occasion, the item was sold out and I would need to secure another from a different store or warehouse. ![]() As a sales associate, I spent my time being approached by 60% of everyone who entered through the door because they could not find something or refused to read.
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