Bed Bath & Beyond gift cards are expiring way before the stores close

Mar 3 2023, 7:33 pm

Bed Bath & Beyond is about to close all 54 Canadian stores, liquidating its inventory as part of its “planned Canadian wind-down,” but its gift cards will expire way before its doors close for good.

According to a statement from Bed Bath & Beyond Inc., there’s a deadline of March 9, 2023, to use your Bed Bath & Beyond gift cards, even though the stores will be open through April 2023 before closing for good.

That’s because even though gift cards don’t typically expire in Canada, when a company files for bankruptcy, it is up to the courts to determine when they expire.

“Pursuant to an Initial Order of the Ontario Superior Court of Justice (Commercial List) granted on February 10, 2023, Bed Bath and Beyond Canada was only entitled to accept gift cards issued prior to the date of such Order until and including February 25, 2023,” said the company.

“The company obtained an amended and restated Initial Order on February 21, 2023, pursuant to which, among other things, this deadline was extended to March 9, 2023. This applies to other customer programs as well. The March 9, 2023, deadline applies in all provinces in which the company operates. Customers can continue to redeem gift cards and rewards until such time.”

Sales have already started at some locations, and discounts are expected to get bigger and bigger in the lead-up to April.

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Daily Hive first reported that Bed Bath & Beyond was closing in Canada, according to court filings dated February 10, 2023.

COVID-19-related supply chain issues contributed to significant losses and it was determined that Canadian operations were “not profitable on a standalone basis.”

In Canada, there are 54 stores, eight of which are in BC. As of January 31, 2023, the company employs 387 full-time employees and 1,038 part-time employees in Canada.

The company is also not doing well in the US. According to reports by Bloomberg, it only has itself to blame for its downfall, including failing to pivot to online, reliance on its famous 20% off coupons, and more.

With files from Daily Hive Staff

Sarah AndersonSarah Anderson

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