Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday, effectively ending its reign as a home-goods titan after more than 50 years. The company had tried multiple measures to remain afloat in recent months—including courting investors, looking for a buyer, and stock offerings—but had warned that bankruptcy and the closure of its stores could happen if it wasn’t able to raise enough money. The company will begin closing sales at all of its remaining stores on Wednesday. “We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process,” the company’s CEO Sue Grove said in a statement.
