American home improvement retailer Bed Bath and Beyond has announced that it has filed for bankruptcy protection, but its stores and websites will remain open and continue to serve its customers.
The beleaguered company filed Sunday in US District Court in New Jersey, valuing its assets and liabilities at between $1 billion and $10 billion.
The move was made after the company failed to secure the necessary funds to survive in the market.
The company said it has filed a cooling request for its system through limited marketing efforts to generate interest in one or more sales of some or all of its assets.
He also stated that his stores will remain open and continue to serve customers, and that he intends to fulfill his obligations to his customers, employees and partners.
Source: AB
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