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.

Are Bed Bath & Beyond stores still open?

The company’s 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores, will remain open for now, as will websites. The company secured a $240 million loan to help fund its operations during bankruptcy. But store closing sales will begin Wednesday, and Bed Bath & Beyond will close some stores.

Does Bed Bath & Beyond have debtor-in-possession financing?

The company said that it has received a commitment of approximately $240 million US in debtor-in-possession financing from Sixth Street Specialty Lending Inc, according to a statement. Nearly empty shelves are seen at a Bed Bath & Beyond store in Naples, Fla., on April 10. (Anne D'Innocenzio/The Associated Press)

Was Bed Bath & Beyond a category killer?

Bed Bath & Beyond had been a crown jewel of the era of so-called “category killers”: chains that dominated a category of retail, such as Toys “R” Us, Circuit City and Sports Authority. Those companies, too, ultimately filed for bankruptcy.