The bankruptcy of Bed, Bath & Beyond It was one of the most surprising news in the financial world. The popular chain of stores for home, kitchen, bathroom items and hundreds of trinkets has just file bankruptcy in the United States.
The bombing includes the closure of 360 tiendas de Bed, Bath & Beyond and others 120 more stores from its sister chain, called BuyBuy Baby.
This news, of course, made us doubt the situation of the company in our country. Yeah Bed, Bath & Beyond declared bankrupt in the United States, What will happen to their stores in Mexico?
What will happen to the Bed, Bath & Beyond stores in Mexico?
As you can imagine, the news of the bankruptcy of Bed, Bath & Beyond in the United States was so notorious that the offices in our country had to go out to clear up the scandal. In a brief statement —published on his official page— they told that stores in Mexico remain open.
In fact, they even explained that the bankruptcy of Bed, Bath & Beyond only applies to USA and that, at least in Mexicoare working without any hiccups.
Bed, Bath & Beyond Mexico has positive operating and financial results with a solid balance sheet and no debt, which is why it will continue to operate normally in Mexico.
Bed, Bath & Beyond, on their official Mexico page.
Interestingly, they also clarified that the brand in Mexico es completely independent to the United States brand. “Working autonomously in terms of its operations and sales to the public”said the corporate.
So, without getting into so much entanglement: despite his bankruptcy in the gabacho, all the Bed, Bath & Beyond stores in Mexico They will continue to operate normally. Also will continue to operate its online store without changes.
Why did Bed, Bath & Beyond file for bankruptcy?
The bankruptcy of Bed, Bath & Beyond in the United States it sounds surprising, but it comes after a 2023 what had been publicly disastrous. The gigantic company was known as “Category Killer” for dominating the home products market —taking small distributors out of the game—but his last months were ant color.
According to official reports, only in the last quarter of 2022 —at Christmas time, where they got even— their sales fell up to 50% compared to the previous year.
Some experts believe that the bankruptcy of Bed, Bath & Beyond was caused by his maladjustment in the pandemic. The premise is quite interesting: while millions of us locked ourselves up at home and bought household products, the company was remodeling its catalog in USAhence they did not have many necessary products.
This renewal, moreover, came in full supply chain crisishence their digital inventories were almost empty.
Then came the chronicle of a death foretold. NPR reports that months before the bankruptcy of Bed, Bath & Beyond, the company has changed their managerstheir Actions they have collapsed in the stock market, they have fired employeescerrado stores it is included they sought bank loans. Nothing worked.
Now it is expected that from April 26, 2023 all stores begin to close gradually. gift cards —in the United States, of course.— will stop working in May.
But hey, beyond the financial scandal and the disappearance of some stores that were created more than 50 years ago, things in our country continue to function smoothly. In spite of the bankruptcy of Bed, Bath & Beyondits stores in Mexico will remain open.
