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This pressure led five independent directors to step down on April 22, 2019, and also resulted in the company restructuring its board to include only 10 directors instead of the previous 12 members. The activist investors highlighted several instances of perceived nepotism, including the acquisition of Buy Buy Baby, which was founded by two of Bed Bath & Beyond co-founder Leonard Feinstein's children, and the acquisition of Chef Central, which was created by co-founder Warren Eisenberg's son, as examples of poor business practices at Bed Bath & Beyond. In March 2019, three activist investment firms-Legion Partners, Macellum Advisors, and Ancora Advisors-announced their intent to remove current CEO Steven Temares and restructure Bed Bath & Beyond's current board of directors. Bed Bath & Beyond first reached $1 billion in annual sales in 1999. īed Bath & Beyond went public in June 1992, making its IPO on the NASDAQ stock exchange, where its stock continues to trade under the ticker symbol BBBY. By 2011, Bed Bath & Beyond had 1,142 stores. īy 1991, Bed Bath & Beyond had opened seven new superstores in New Jersey, California, Virginia, Illinois, Maryland, and Florida. The company adopted integrated computer-based inventory management systems in 1993 to better compete with Linens ‘n Things, which had utilized computer inventory management since the late 1980s. In order to properly represent the size increase in its retail stores, the company changed its name to Bed Bath & Beyond in 1987. Also in 1985, the first superstore was opened, as an attempt to remain competitive with Linens 'n Things, Pacific Linen, and Luxury Linens. By 1985, Eisenberg and Feinstein were operating 17 stores in the New York metropolitan area and California. In 1971, they opened a store in Springfield, New Jersey, called Bed 'n Bath. As the company suffered financial difficulties, and the two believed that the market would shift toward specialty stores, they decided to leave and form their own company.

Warren Eisenberg and Leonard Feinstein worked in management positions at discount store chain Arlan's. All remaining Bed Bath & Beyond stores, as well as all locations of subsidiary Buy Buy Baby, are currently holding liquidation sales, and will close by July 2023. On April 23, 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy, and announced that it would be winding down its operations after several failed attempts to turn around the company.

It was counted among the Fortune 500 and the Forbes Global 2000. Bed Bath & Beyond is headquartered in Union, New Jersey. All remaining stores in Canada has closed in April 2023. The chain operates stores in the United States and Mexico. is an American big box store specializing in home textiles, housewares, decorative home accessories and specialty items. This location was among the last stores in Canada, closing in April 2023.īed Bath & Beyond Inc. Bed Bath & Beyond in Markham, Ontario, in August 2018.