Bed Bath & Beyond Inc. has recently filed for Chapter 11 bankruptcy in New Jersey after efforts to restructure and reduce debt have failed. Overall, the company is said to have $4.4 billion worth of assets and over $5 billion in debt, with BNY Mellon having the largest, unsecured claim. Although there were efforts made to save the company with financing efforts, the company failed to meet specific requirements and the deal was not completed. 

Its decline, however, is frequently attributed to the company itself. Instead of revamping its online presence and staying competitive with Amazon, Walmart, and Target, Bed Bath & Beyond focused its efforts on acquiring other companies. These ventures often resulted in deeper failures. By 2023, the fate of closure seemed inevitable until the company found a last-minute opportunity to fundraise. This final effort fell far short of the $1 billion goal, and only accumulated around $300 million. 

Although Bed Bath & Beyond’s departure from the retail space leaves many devastated, it comes as a financial victory for its competitors. Neil Saunders, an analyst at GlobalData notes that its consumers and market share will not be spread among users of Amazon, Walmart, and Target.