Remember Bed Bath & Beyond? Of course you do; you can probably smell it, just hearing the words. After shuffling off this mortal coil last year, the brand has made a deal to come back … albeit, a little differently than you know it.
Didn’t Bed Bath & Beyond Go Out of Business Already?
In April of 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy and shuttered all of its retail locations by June. It then moved online in partnership with Overstock.com.
Is Bed Bath & Beyond Opening New Stores?
After striking a deal with Kirkland’s Home, the two brands plan to open a few bricks-and-mortar locations. Bed Bath & Beyond continues to claw its way from out of the grave.
Will the New Stores Be the Same as the Old Stores?
These won’t be the big, warehouse-esque stores you remember. These will be “neighborhood” stores, each somewhere between 7,000 and 15,000 square feet, and carrying “a curated assortment from iconic legacy vendor partners.”
What Were the Terms of the Deal?
In a seven-year collaboration, Bed Bath & Beyond entered into a $17 million term loan credit agreement. Some $8.5 million of that is a convertible note, which means it can be converted into stock rather than being repaid.
Is Kirkland’s Home the Same Company as Kirkland Signature?
Kirkland’s Home is its own thing — a home goods store — and not related to Costco’s house brand, Kirkland Signature.
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