Now that Bed Bath & Beyond has filed for bankruptcy, what do you do with all those coupons?
And when do the going-out-of-business sales begin?
The home-goods retailer announced Sunday it is filing for Chapter 11, accelerating the process of closing stores while executives continue to try to sell off remaining assets.
Many of the remaining stores already have nearly-bare shelves.
"It's empty, it's like a disaster zone has gone through there," said one recent customer. "I mean, it's unbelievable."
After closing dozens of locations in the last year, the company says the remaining 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will wind down. They will continue to operate for now because the bankruptcy protection includes $240 million to keep things running until the end.
What it means for customers
-- Deep discounts can be found when store closing sales begin April 26.
-- The usual return and exchange policies stay in effect until May 24 for any purchase made prior to April 26. Any purchases made after store closing sales begin April 26 will be final.
--Gift cards and certificates are good through May 8.
--Bed Bath & Beyond coupons are no longer valid after April 26.
--Customer Welcome Rewards can be redeemed until May 15, but are no longer being awarded on new purchases.
--All in-stock online orders will be fulfilled.
--Data will remain available for all wedding and baby registries, but registry items can no longer be purchased through the company platform.
More information is available at the company's FAQ page.
In business since 1971, the retail giant acknowledges it was slow to transition to online shopping while Amazon, Walmart and Target grew.
Other brick-and-mortar retailers have seen the same fate in recent years, such as Toys R Us and Circuit City. Recently David's Bridal filed for bankruptcy, with plans to lay off some 9,000 workers.
Bed Bath & Beyond says it will be able to stop some store closings if a last-minute buyer steps in.
It currently employs about 14,000 workers, down from 32,000 last year.