Is Bed Bath & Beyond Canada going out of business?

Bed Bath & Beyond Canada has filed for creditor protection and will close 54 stores. (Paul Sakuma/The Associated Press) Bed Bath & Beyond's Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a U.S. bankruptcy.

Will Bed Bath & Beyond file for bankruptcy?

U.S. parent company Bed Bath & Beyond Inc. has shut scores of its stores across the country and warned last month that it may need to file for bankruptcy protection as it was unable to pay back its loans. Customers shop at Bed, Bath & Beyond in New York in 2021.

Does Bed Bath & Beyond Canada have a creditor protection sign?

A Bed Bath & Beyond sign is shown in Mountain View, Calif., in 2012. Bed Bath & Beyond Canada has filed for creditor protection and will close 54 stores. (Paul Sakuma/The Associated Press)

Is Bed Bath & Beyond insolvent?

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy Alvarez & Marsal showed. Alvarez & Marsal has been appointed as a monitor of the business in the Canadian court case.