Bed Bath & Beyond Inc. BBBY filed for voluntary chapter 11 bankruptcy on Sunday with the aim of achieving an orderly wind down of its businesses, while also seeking to find interest in its assets. The troubled home goods retailer, which has been on the brink of bankruptcy for months, said it has debtor-in-possession financing of about $240 million to provide the liquidity needed to support its operations through the process. Its network of 360 Bed Bath & Beyond stores and 120 buybuy Baby stores and websites will remain open and continue serving customers while it looks to close retail locations. The company will honor commitments to customers, employees and vendors. “In the event of a successful sale, the company will pivot away from any store closings needed to implement a transaction,” the company said in a statement. The stock closed Friday at 28 cents.
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