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Bed Bath & Beyond is Closing All Stores in Canada

Bed Bath & Beyond is Closing All Stores in Canada

By Ambia Staley

Update March 2, 2023: Bed, Bath & Beyond announced today that March 8, 2023 is the deadline to redeem or use gift cards, merchandise credits, or Welcome Rewards+.

Originally Posted February 14, 2023: After several years of financial difficulties, Bed Bath & Beyond has announced that it's closing all of its Canadian stores.

A court filing posted recently on the website of consultancy firm Alvarez & Marsal says, "The Bed Bath & Beyond Group has been in financial difficulty for the past several years, suffering significant net losses since 2018".

Court documents also show that the retailer had a net loss of $99.5 million for the 9-month period ending November 26, 2022. As of November 2022, the company's assets were valued at approximately $480.1 million, while its total liabilies were worth approximately $429.7 million.

The closure of the company's Canadian division will see 54 Bed Bath & Beyond stores, as well as 11 BuyBuy Baby stores shutter across the country. The closures will also result in the loss of just over 1,400 jobs.

At this time, it's unclear when the liquidation process will begin and stores will start to wind down operations.

____________________

Sources: PR Newswire, Toronto Star and Alvarez & Marshal Canada, Inc.

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  • Chew300ZX
    • Sadly there are too many idiots out there allowing liquidators to get away with this crap. Most people will think something is a deal if a store tells them it is. Same with boxing week sales, retailers realized a long time ago there is no need to offer a big discount, just tell people it's a great deal and most will believe them...
    • Report Post
  • funcanuck
    • 40% off of Christmas and Halloween stuff which has obviously been sitting there for a long time, this was in the North Van store. Most of it won't sell til 80-90% off. A lot of the items left are things like small appliances like blenders, toasters, frypans or kitchen utensils which are pretty overpriced still.
    • Report Post
  • elvaclapointe
    • 10% off on most items. It's a joke! BBB's regular sales were more than that!
    • Report Post
  • Kiraly
    • What RFD shoppers would like to know; If you were to plot the declining prices over time on a graph, at what point in the future do prices start to become reasonable? Followed by; When do the bargains begin and do they have free bags?
      Discounting to reasonable prices will begin when all the good stuff has been sold to people who overpaid for it, leaving only junk behind.
    • Report Post
  • fergy
    • What RFD shoppers would like to know; If you were to plot the declining prices over time on a graph, at what point in the future do prices start to become reasonable? Followed by; When do the bargains begin and do they have free bags?
    • Report Post
  • BBQPEANUT
    • I kinda laughed at this "deal" on a cookware set, its the type of thing that normally goes on sale for like 50-70% off. Entire store in North Van is 20-30% off now which is still too high.

      20230312_152355.jpg
      Lots of towels still / pillows?
    • Report Post
  • ohno
    • Today, I went to the Markham Ontario location with a gift card, they mentioned that I can possibly use it in the US.

      Later in the day, I went on BBB US website to check the balance. When I check the balance, I see the GC value in USD. I haven't tried to make a purchase.

      Maybe I'll try buy something with my gift card next time I go to the States.

      My gift card has fine print that says good for purchase at any BBB location in Canada, US or Puerto Rico.
    • Report Post
  • U4IA
    • Stopped in there for fun since it was on the way. I wasnt expecting deals, but wow, some of the prices were just bonkers.

      40% off was only on some xmas stuff, that was laughable at the regular prices, neverless the sales prices.
    • Report Post
  • CanadianConsumerYEG
    • BB&B was dollar-store quality with The Bay prices. The missing piece to make that model successful in Canada—low quality for high prices—is to wrap yourself in the flag. See: Tim Hortons and Canadian Tire.
      So true just like that belt and wallet company that was being shilled here awhile ago.
    • Report Post
  • Kiraly
    • This makes WalMart happy.

      Canada is turning into a nation of dollar stores.
      BB&B was dollar-store quality with The Bay prices. The missing piece to make that model successful in Canada—low quality for high prices—is to wrap yourself in the flag. See: Tim Hortons and Canadian Tire.
    • Report Post
  • Luzer123
    • This makes WalMart happy.

      Canada is turning into a nation of dollar stores.
    • Report Post
  • ccya965041
    • I kinda laughed at this "deal" on a cookware set, its the type of thing that normally goes on sale for like 50-70% off. Entire store in North Van is 20-30% off now which is still too high.

      20230312_152355.jpg
      I think they completely want to discourage people to buy anything from the store, even a toilet plunger is almost 10x more expensive than other stores, what kind of liquidation sale is this?
    • Report Post
  • cslusarc
    • I kinda laughed at this "deal" on a cookware set, its the type of thing that normally goes on sale for like 50-70% off. Entire store in North Van is 20-30% off now which is still too high.
      That Cuisinart MicaShine Cookware Set is $349.99 on sale on both Amazon.ca and Cuisinart.ca. It needs to be 75% off its new $949.99 regular price to be even acceptable to buy.

      It was $859.99 at regular price pre-liquidation.
    • Report Post
  • funcanuck
    • I kinda laughed at this "deal" on a cookware set, its the type of thing that normally goes on sale for like 50-70% off. Entire store in North Van is 20-30% off now which is still too high.
      20230312_152355.jpg
    • Report Post
  • blackbirdman
    • Another business pulling out of Canada: Nordstrom

      Canada just isn't as profitable as ppl think. We're just a rounding error to most.
      Our country is so expensive that literally the majority of us shop at budget value stores. EI.. Walmart etc.. I've never stepped foot in a BBB store in my life, nor did I intend to, and that's how you instantly know a store is going to go under, haven't went to nordstrom either.
    • Report Post
  • sunnysidesolutions
    • Went to local BBB and everything was overpriced AF. Nothing seems to be priced to clear. Everyone was walking out emptyhanded
    • Report Post
  • bylo
    • Discounts are now 20-30%.

      I expect all kitchen electrics, vacuums, irons amd laundry steamers and personal care electrics to sell out this week.
      Unless the product comes from a major name brand with good reputation for honouring their warranty, I wouldn't bite for a mere 20% to 30% discount. The risk isn't worth it.
    • Report Post
  • cslusarc
    • When the Sears Outlet @ Winnipeg's Garden City mall was liquidating in an earlier phase they were still receiving new clearance merchandise this point of the liquidation.

      Most Bed, Bath & Beyonds in Canada were poorly merchandised when the liquidatiion began. I expect 1 or 2 Bed, Bath and Beyond stores in the "Golden Horseshoe" or the Lower Mainland to close this month and have their remaining merchandise transfered to nearby stores.
    • Report Post
  • djemzine
    • Discounts are now 20-30%.

      I expect all kitchen electrics, vacuums, irons amd laundry steamers and personal care electrics to sell out this week.
      Are most stores empty already? Don’t want to waste my time and gas. Too bad they closed the website for purchases.

      Am interested in some kitchen appliances and such.
      Any good deals yet by Bed Bath & Beyond. Want to see what I can score and scoop from there.

      Let the hunt begin!
    • Report Post
  • ccya965041
    • Discounts are now 20-30%.

      I expect all kitchen electrics, vacuums, irons amd laundry steamers and personal care electrics to sell out this week.
      Vacuum only has the display model, it’s used and not even empty out, even 30% off is not really good deal for display model.
    • Report Post
  • cslusarc
    • Discounts are now 20-30%.

      I expect all kitchen electrics, vacuums, irons amd laundry steamers and personal care electrics to sell out this week.
    • Report Post
  • CanadianConsumerYEG
    • Also went to my local BBB with minimum 10% off. Decent amount of people but no full carts. Only thing 30% off was duvet covers which even at 30% off was still overpriced. I'm impressed with the restraint people have, I thought people would have blown their load instantly like at Target and Sears liquidations.

      Being in the store and looking at the original MSRPs it's obvious how this store failed, everything is crazy expensive. Simple things like plastic bins are 2-3x more expensive than another store, and not like they were amazing quality either. A simple crappy plastic bin was like $20, and this was their in house "Simple Essentials" brand or whatever. Would be $4-8 at any other store. Saw plastic soap dishes for $4, compared to $2 at Dollarama or Wal Mart, and if it was from Aliexpress or Temu, less than $1.
    • Report Post
  • ccya965041
    • I checked our local store again, and it now has Store Closing signs up and 10% off almost everything. Reasonable traffic on a Saturday, but 10% just isn't enough to create any real bargains considering the normal high prices. After all, we routinely got 20% off coupons before.
      I checked yesterday and it had 10%-30% off for whole store, while 90% of goods are only 10% off, that’s almost nothing because the original cost has been jacked.
    • Report Post
  • bylo
    • I checked our local store again, and it now has Store Closing signs up and 10% off almost everything. Reasonable traffic on a Saturday, but 10% just isn't enough to create any real bargains considering the normal high prices. After all, we routinely got 20% off coupons before.
      Usually these sorts of store closing sales start with a low discount then increase the percentage as their hard close date approaches. It's like a negative auction. If you need an item badly enough you'll accept a lower discount. The stuff that no one wants will need a heftier discount to get off the shelves.
    • Report Post
  • Scote64
    • I checked our local store again, and it now has Store Closing signs up and 10% off almost everything. Reasonable traffic on a Saturday, but 10% just isn't enough to create any real bargains considering the normal high prices. After all, we routinely got 20% off coupons before.
    • Report Post
  • pacificcentre
    • If stuff is not sold, the vendors take the inventory back.
    • Report Post
  • bylo
    • PSA: Bed Bath & Beyond gift cards to expire weeks before company closes its Canadian stores
      Last month, Bed Bath & Beyond Canada was granted bankruptcy protection by the Ontario Superior Court of Justice.

      The company told CBC News its Canadian stores are set to close sometime next month, but customer gift cards and Welcome Rewards points will expire next week — on March 9...

      Typically, gift cards can't expire in Canada as mandated by provincial consumer protection regulations. But that rule no longer applies when a company seeks bankruptcy protection — leaving the courts to determine whether, and for how long, a retailer's gift cards will be accepted.

      "Generally, the judge will accept the company's recommendation, but it is ultimately the judge who needs to approve it," said insolvency lawyer Geoffrey Dabbs.

      Bed Bath & Beyond did not answer questions about the March 9 deadline, except to say that it had been extended following an initial expiry date of Feb. 25.
    • Report Post
  • playnicee1
    • Lowe's as well.
      Nawww. Rona will just stick their nametag over the Lowe's sign and carry on business as usual...minus some stores.
    • Report Post
  • tehwegz
    • Another business pulling out of Canada: Nordstrom

      Canada just isn't as profitable as ppl think. We're just a rounding error to most.
      Lowe's as well.
    • Report Post
  • GSXXRR
    • Another business pulling out of Canada: Nordstrom

      Canada just isn't as profitable as ppl think. We're just a rounding error to most.
    • Report Post
  • Xao604
    • Went there yesterday and it’s 10-30% now at bed bath and buy buy baby. 90% of the items at both stores are 10% off. Guess will have to wait for the bigger discount.
    • Report Post
  • Kiraly
    • Sums up why they're closing up shop, they can't even get a store closing sale right. 10% is like less than their regular sale price.
      See my post # 4 in this thread about why they are doing it exactly right. It's right out of the liquidation playbook. The point of liquidation sales is not to unload stuff cheaply. The point is to get MAXIMUM value out of their remaining inventory.

      A liquidation sale is a marketing tactic. They drum up as much hype as possible with those big banners and signs to get people into the store. Then they play up a sense of urgency to get people to pay high prices: "If I don't buy this now, it'll be gone in a week." One of the dirtier tricks is to jack up a price ABOVE MSRP, and then "discount" it. So they can say it's 20% off; but in reality it is still selling for FULL MSRP.

      This is always how liquidation sales play out, and anyone who has been paying attention to them over the last 15 years would know that you aren’t likely to score a deal at them. Sure, deeper discounting will start eventually. But all the good stuff will be long gone by then.
    • Report Post
  • PointsHubby
    • Sums up why they're closing up shop, they can't even get a store closing sale right. 10% is like less than their regular sale price.
      I get what you are saying / alluding to …

      But when a Co goes into receivership, it’s not them that makes the decisions on selling off their assets
      And at how much

      That’s 100% in hands of the liquidators on behalf of the courts

      They continue to try to get as much money as possible to pay off the creditors
    • Report Post
  • someone16
    • Those photos were posted in my local group. 10% off is ridiculous.
      Sums up why they're closing up shop, they can't even get a store closing sale right. 10% is like less than their regular sale price.
    • Report Post
  • demon1102
    • Those photos were posted in my local group. 10% off is ridiculous.
      Image
      Image
    • Report Post
  • Kiraly
    • Your interpretation I suppose …

      If it’s a Cdn Co and ships coast to coast …

      To me that’s national

      Lots of well known Cdn Cos don’t have a physical store in every Province or Territory
      I think that the operative word is chain. Chain implies physical locations. So I would expect a national chain to have physical locations nationwide. Sure, some retailer might ship nationwide, but if has physical locations only in one area then it's not really a national chain.
    • Report Post
  • PointsHubby
    • Hardly national! :)

      I would never describe London Drugs as a national chain.

      Ron.
      Your interpretation I suppose …

      If it’s a Cdn Co and ships coast to coast …

      To me that’s national

      Lots of well known Cdn Cos don’t have a physical store in every Province or Territory
    • Report Post
  • newfbc
    • Linen Chest is in more than just QC & ON
      They are also in NS & NB
      And … available online

      Lol, it’s kind of how all you westerners talk about London Drugs
      None east of Manitoba
      But us Easterners, can all certainly shop online to reap the benefits you guys get locally
      Hardly national! :)

      I would never describe London Drugs as a national chain.

      Ron.
    • Report Post
  • PointsHubby
    • Linen Chest? What's that?

      My nation Canada includes more than Quebec and Ontario! :)

      Ron.
      Linen Chest is in more than just QC & ON
      They are also in NS & NB
      And … available online

      Lol, it’s kind of how all you westerners talk about London Drugs
      None east of Manitoba
      But us Easterners, can all certainly shop online to reap the benefits you guys get locally
    • Report Post
  • newfbc

    • From the 90s onwards
      There were these standalone housewares stores
      Home Outfitters, Linens & Things, Bed Bath & Beyond
      And a few local Cdn ones that have grown to national chains as well … like Linen Chest out of Montreal
      https://www.linenchest.com/en_ca/
      Linen Chest? What's that?

      My nation Canada includes more than Quebec and Ontario! :)

      Ron.
    • Report Post