Bed Bath & Beyond was once the go-to store for dorm necessities, apartment decor, and shower caddies. But in 2023, the company filed for bankruptcy after years of declining sales, poor leadership decisions, and rising competition from online retailers like Amazon and Target.

On the surface, it’s just another failed retail giant. However, below the surface it's a real-world lesson in budgeting, consumer behavior, marketing, and why it pays to adapt.

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The fall of Bed Bath & Beyond was a slow unraveling that came from a series of both financial and strategic missteps. For years, the company was known for its massive stores, aisles packed with dorm supplies, and large coupons that never seemed to expire. What made the company successful later led it to its doom.

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One of the company’s biggest mistakes was moving away from what customers actually wanted. Instead of offering a wide selection of trusted brand-name products, Bed Bath & Beyond began focusing on its own private-label brands (products made and sold exclusively by the store). These items were unfamiliar and untrustworthy to many shoppers.

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At the same time, online shopping was exploding. Companies like Amazon and Target were offering fast delivery, better prices, and better convenience. While other retailers were adapting to digital life, Bed Bath & Beyond remained stuck in the past.

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Financially, things got worse. The company kept making risky decisions, such as buying back its own stock instead of investing in store upgrades or digital tools. Suppliers stopped sending products because they weren’t being paid on time. Shelves began to empty, and customers stopped coming.

By April 2023, Bed Bath & Beyond officially filed for Chapter 11 bankruptcy, which means it tried to reorganize and pay off debt, but it was too late. Stores began closing across the country. Thousands of workers lost their jobs, and what was once a retail giant had disappeared almost completely.

The fall of Bed Bath & Beyond is a reminder that even well-known companies can collapse if they don’t listen to customers, manage money wisely, and keep up with changing trends. In a world that moves fast, companies and people that stay flexible and focused are the ones that last. So whether the goal is launching a business, saving for a big goal, or just making smarter choices, learning from others’ mistakes can lead to smarter, more resilient futures.

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Just like Bed Bath & Beyond needed to manage its money, plan ahead, and adapt to changing times, individuals must do the same with their personal finances. Learning to budget, save, and make informed spending decisions can prevent small money problems from turning into big ones. Building good habits early, like tracking expenses, avoiding unnecessary fees, and understanding how interest worlds, creates a strong financial foundation. This foundation helps handle unexpected expenses and prepares for future goals, whether that’s college, a car, or even starting a business.

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In essence, personal finance isn’t just about numbers. It’s about making choices that support long-term success. Individuals who actively manage their money and plan for the future put themselves in control, and that’s a skill worth mastering early.

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Author: Lauren Hirsch

Publisher: The New York Times

Published: April 23, 2023

Accessed: July 26, 2025

https://www.nytimes.com/2023/04/23/business/bed-bath-beyond-bankruptcy.html

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