Bed Bath & Beyond (BB&B) stores, first founded in 1971, are expected to be permanently closed sometime in 2023. It’s not clear what their exact closing day is due to closing sales still being hosted in the 10 or fewer stores still active in Illinois. 

The store secured $240 million to assist its operation during bankruptcy. Its debt, on the other hand, was reported to be $5.2 billion, as assets were $4.4 billion. However, bankruptcy does not guarantee a store’s permanent closing. But stores such as Target, Walmart, Costco, TJ Maxx, Homegoods, and others were able to sell similar products while undercutting BB&Bs. Unless there will be a buyer for Bed Bath & Beyond, the store’s future is not secured due to its loss of customers and decrease in income.  

Around 400 BB&B stores will close country-wide to save money, the company said. It also stopped paying severance to its laid-off employees to save. It terminated a deal with Hudson Bay Capital to help pay off debt, keeping reliance on customers. 

One message posted on the BB&B website reads, “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations. Bed Bath & Beyond and BuyBuy Baby stores remain open to serve you.”

“All purchases during our store closing sales will be final,” it added.

These are the stores still open in Illinois for the deep-discount closing sales.

• Clybourn Place: 1800 N. Clybourn Ave., Chicago
• Deerbrook Mall: 96 S. Waukegan Rd., Deerfield
• Finley Square Mall: 1548 Butterfield Rd., Downers Grove
• Frankfort: 11165 West Lincoln Highway
• Naperville: 336 S. Route 59, Naperville, Ill.
• Forest Plaza: 6309 E. State St., Rockford
• Skokie: 5545 W. Touhy Ave.
• Willowbrook: 7175 Kingery Highway

“Well, I don’t shop there anymore,” ex-customer Joann Michael said. “Their prices are too high. I’m not glad they’re closing, it was a good store with coupons, of course. I wouldn’t pay the full price for their stuff, ‘cause you can get it cheaper at Walmart or Target.”

In recent weeks, similar stores have been filing for bankruptcy, such as Party City, Tuesday Morning, David’s Bridal, Serta Simmons, and Pet Partners. As interest rates go up and customer-wants spending goes down, bankruptcies are piling up more in the retail sector.