Bed Bath & Beyond

Bed Bath and Beyond filed for Chapter 11 bankruptcy protection on Sunday after the Home Goods retailer failed to secure funds to stay afloat. The big box store, which shot to popularity in the 1990s as a go-to shopping destination for wedding registries and those with new and growing families, has seen demand drop off in recent years as its merchandising strategy to sell more store branded products fizzled. Last year, the business switched strategies, instead bringing in more national brands that shoppers might recognize. But it wasn't enough. The company reported a loss of nearly $400 million after sales plunged by a third for the quarter that ended last November. Bed Bath and Beyond filed for bankruptcy in a New Jersey court. The filing lists both its estimated assets and liabilities in the range of $1 billion and $10 billion. The company added that its 360 Bed Bath and Beyond and 120 Bye Baby stores and websites will remain open and continue serving customers as it starts efforts to affect the closure of its retail locations.