Stocks began plummeting today after Bed Bath & Beyond issued a statement that they are in financial trouble. The retail company warned that it may not have enough money to cover basic expenses, and they are looking for alternative funding including filing for bankruptcy.
In a world where similar items can be found on Amazon (for more affordable prices) Bed Bath & Beyond is struggling with sales, and may have to begin closing stores. When the news hit Twitter this morning, the internet clearly took notice.
My wife telling me to go use our unlimited supply of Bed Bath & Beyond coupons before they go bankrupt pic.twitter.com/N6lDAHSgNK— GeoffinLincoln (@GeoffinLincoln) January 5, 2023
Bed Bath & Beyond is headed towards bankruptcy.— teatime75 (@teatime75) January 5, 2023
Me: but where else will my mother buy me my annual Christmas gift card? pic.twitter.com/Ty1IEQYTkc
Guess I should use that Bed Bath & Beyond gift card pretty soon.— Ivan the K™ (@IvanTheK) January 5, 2023
I gotta get this remote at Bed, Bath & Beyond before they close down. pic.twitter.com/t2CVLXrjXj— In My Mind (@MeAloneInMyMind) January 5, 2023
You mean.... this glizzy? pic.twitter.com/F3vt6kiiRa— jerm $mri (@juicemanjerm) July 6, 2020
Bed Bath & Beyond going out of business means I’m stuck with several thousand 20% off coupons— JSWilliams1962 (@jswtreeman) January 5, 2023
Between the store's pop culture references from The Other Guys to Click to Broad City, and its millennial-driven consumer base, the chain does hold some nostalgic value. The memes continued to glorify the good old days.
bed bath & beyond going bankrupt pic.twitter.com/zDTSFitb4S— g (@ginocardoni) January 5, 2023
I got like 5 tweets into the Bed Bath & Beyond trending page about the chain ‘possibly’ closing before I realized I was thinking it was about Bath and Body Works— Angela Gailey (@angela_gailey) January 5, 2023
Don't worry, if the Bed Bath & Beyond closes on 6th avenue you can still go to the bathroom across the street at The Container Store. https://t.co/3duVHPrY7x— Sophie Vershbow (@svershbow) January 5, 2023
Me showing up for the "everything has to go!" sale if Bed Bath & Beyond goes out of business. pic.twitter.com/h55jpm8Se7— I am a... (@tjs683) January 5, 2023
Lowkey won’t be mad if Bed Bath & Beyond go outta business . I know the sales gon hit & I need a rug— TheFineAuthor (@TheFineAuthor_) January 5, 2023
It's been a rough stretch for the company, which is still in search of a new Chief Financial Officer after former CFO, Gustavo Arnal's untimely death. In addition, Bed Bath and Beyond is in direct competition with stores such as Target, Wayfair, and Kohl's.