Will Bed Bath & Beyond go bankrupt?

Bed Bath & Beyond filed for Chapter 11 bankruptcy Sunday, with plans to wind down its entire business. The beleaguered company has laid out what the action means for its customers in an online FAQ page. Will Bed Bath & Beyond stores and its website remain open? Yes, for now.

What happens if BBBY goes bankrupt?

In the bankruptcy process, BBBY shareholders are last in line to get paid — after all those creditors — when the company’s assets are liquidated. Simply put, bankruptcy is unlikely to leave any cash for shareholders. With sadness, BBBY’s once loyal customers have moved on.

What happened to BBBY?

BBBY — which was founded in 1971 and went public in 1992 — will eventually close all its retail stores, noted the Journal, and the retailer has obtained $240 million from Sixth Street Specialty Lending “to fund its operations in bankruptcy,” according to the New York Times NYT +0.5%. BBBY will keep some stores operating in the near term.