On Sunday, Bed Bath & Beyond filed for Chapter 11 bankruptcy and announced that the company will begin closing its 360 stores nationwide. Here’s what customers should know about when the closing sales will begin, and how long they can return items and use coupons.

Why did they file for bankruptcy?

Bed Bath & Beyond is seeing the same fate many other brick-and-mortar stores have. As retailers such as Amazon and Target take over, stores like Sears and Bed Bath & Beyond can hardly keep up.

NPR stated that Bed Bath & Beyond had been on a steep decline, increasingly issuing layoffs and store closures over the past year. The decline has been fast, given that as recently as 2018 Bed Bath & Beyond had over 1,500 stores nationwide, a stark contrast to today’s total of 360.

Founded in 1971, Bed Bath & Beyond skyrocketed in popularity in the 1990s as a shopping destination for wedding and baby registries. The demand dropped as the company’s attempt to sell more store-branded products “flopped,” according to Reuters.

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When will stores close?

Due to a Chapter 11 filing, Bed Bath & Beyond, along with any buybuy Baby storefronts and websites, will remain open until a buyer shows interest in the company, CNN stated. However, if a buyer does not emerge, the company will be liquidated and go out of business.

Neil Saunders, a retail analyst and marketing director, said that Bed Bath & Beyond will be a “shadow of its former self” if it manages to find a buyer or emerge from bankruptcy, per CNN.

Closing sales will begin as coupons expire

If you have any of those blue coupons burning a hole in your pocket, now is the time to use them, as coupons are set to expire after Wednesday, April 25, the very same day that liquidation sales begin, per Insider.

“We encourage you to come shop for your favorite products while merchandise selection is best,” the company said, according to CNBC. All sales closing sales will be final, and returns of items purchased before April 24 will only be accepted until May 24.

The rewards program is expected to run until May 15, according to Today, but customers will not be allowed to use Welcome Rewards following Sunday’s bankruptcy announcement.

For those registered with Bed Bath & Beyond, the company said it will partner with an “alternative platform” to allow couples to complete wedding registries, according to Insider.