Bed Bath and Beyond officially files for Bankruptcy

Photo by: Bed Bath & Beyond
Photo by: Bed Bath & Beyond

(Union, NJ) -- Big box chain Bed Bath and Beyond filed for chapter 11 bankruptcy Sunday.

The  company released a statement Sunday afternoon, saying they have begun the process of winding down operations across their remaining 537 stores in the U.S.

This comes after struggling for years, occurring to the retailer, and the most recent failure to pay off 300-million dollars worth of stock.

Several stores had recently closed in another effort to avoid a full shutdown, but that move also appears to have failed.