Bed Bath & Beyond Canada going out of business, closing 54 stores

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A Bed Bath & Beyond sign is shown in Mountain View, Calif., Wednesday, May 9, 2012. Bed Bath & Beyond has filed for creditor protection.THE CANADIAN PRESS/AP-Paul Sakuma

Bed Bath & Beyond's Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a U.S. bankruptcy. The company operates 54 Bed Bath & Beyond stores and is insolvent, documents show.Posted: Feb 10, 2023 7:36 PM EST | Last Updated: February 11, 2023

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy. Alvarez & Marsal has been appointed as a monitor of the business in the Canadian court case. As of Jan. 31, the company employed approximately 387 full-time employees and 1,038 part-time workers in connection with its retail operations across Canada, according to the filing.

Bed Bath & Beyond Canada had a net loss of $99.5 million for the nine-month period ending Nov. 26, 2022, the documents show.

 

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