Bed Bath & Beyond files for bankruptcy

Bed Bath & Beyond, America's retail giant of the 1990s and 2000s, filed for Chapter 11 bankruptcy on Sunday after a series of last-ditch efforts to keep the company above water failed. The company said that it would liquidate all its assets before going out of business. "We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process," Sue Gove, president & CEO of Bed Bath & Beyond said in a press release. The company's bankruptcy comes as the retailer has teetered on the edge of financial fallout for years, and it was reported this past January that they were seriously considering filing for bankruptcy.