According to data collected by Bloomberg, there were 70 major bankruptcies in just 4 months this year, surpassed only by the years 2009 and 2020.
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For 2009 there were 118 bankruptcies through April. In Covid-impacted 2020, there were 71 bankruptcies. In 2023 there have been 70.
This is the third worst start to the year since 2000. Here’s the Tweet.
2023 Bankruptcy Spotlight
- Bed Bath & Beyond: April 2023: Home goods, baby goods
- David’s Bridal: Date: April 2023: Bridal apparel
- Boxed: April 2023: An e-commerce platform selling wholesale consumer goods
- Independent Pet Partners: February 2023: Pet supplies
- Tuesday Morning: February 2023: Discount home goods
- Serta Simmons Bedding: January 2023: Bedding and accessories
- Party City: January 2023: Party supplies
- Forma Brands: January 2023: Beauty products
The bankruptcy spotlight list is condensed from a detailed report by CBInsights.
Spotlight Bed Bath and Beyond
NBC reports Bed Bath and Beyond Prepares for Store Closings
“Thank you to all of our loyal customers,” Bed Bath & Beyond said in a message posted to social media on Monday. “We have made the difficult decision to begin winding down our operations. Bed Bath & Beyond and buybuy BABY stores remain open to serve you.”
According to the retailer’s website, “deep discount” store closing sales are expected to begin in stores and online beginning Wednesday, and “all purchases during our store closing sales will be final.”
According to the retailer, Bed Bath & Beyond websites, along with 360 brick-and-mortar stores and 120 buybuy BABY locations will “remain open and continue serving customers as the Company begins its efforts to effectuate the closure of its retail locations.”
In Illinois, only eight Bed Bath & Beyond stores remain open, along with five buybuy BABY stores. Earlier this year, Bed Bath & Beyond announced closures of 19 stores across Illinois, many of them in the Chicago area.
Deep Discounts, No Coupons
Bed Bath and Beyond is no longer accepting coupons. Gift cards and loyalty certificates are still valid. All sales are final.
According to official reports, the yuan has overtaken the dollar to become the most-used currency in China’s cross-border transactions, with it being used in 48.4% of all such transactions.
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