Bed Bath & Beyond Is Closing Next Month & Customers Have Just Days To Use Gift Cards & Points
Attention, shoppers! Bed Bath & Beyond is permanently closing all of its stores in Canada — and Canadian customers have just days left to spend their gift cards and points.
Less than one month after the U.S.-based retailer confirmed its plans to permanently close in Canada, shoppers have been warned that they have a limited time to spend any remaining gift cards and Welcome Rewards points.
The company told CBC News that all of its Canadian stores — including 11 buybuy BABY locations — will close sometime in April, but said gift cards and points will expire much sooner.
Customers have until Thursday, March 9 to use up any card or points balances, or risk losing them altogether.
While most gift cards cannot expire in Canada, there are exceptions in cases where a company has filed for bankruptcy protection — which Bed Bath & Beyond has.
The deadline was previously set for February 25, but was pushed back to March 9, the company told CBC.
It means shoppers with Bed Bath & Beyond gift cards or points will need to spend them ASAP, as they won't be accepted after Thursday.
The good news is that some locations are already offering big discounts and sales, according to bargain-hunting TikTokers.
What's more, the company is also offering online deals as of March 6, including on select bedding, storage, curtains and appliances.
Back in February, the company confirmed its plans to shutter locations across Canada following "dramatic declines in revenues."
A court filing at the time revealed that Bed, Bath & Beyond "has been in financial difficulty for the past several years, suffering significant net losses since 2018."
Despite attempts to turn things around, the COVID-19 pandemic, the broader economic downturn and the sudden death of the retailer's chief financial officer made operations increasingly difficult.
As of January 31, Bed Bath & Beyond employed just under 400 full-time workers in Canada, in addition to 1,038 part-time employees.
It comes as another U.S. store, Nordstrom, also announced plans to shut down its Canadian operations.
Citing years of losses, the company said it does not see "a realistic path to profitability for the Canadian business."
Around 2,500 people are expected to be laid off as part of the company's liquidation in Canada.
Closing down sales are expected sometime in March, although they are still pending court approval.
Shoppers will be able to use Nordstrom gift cards "through to the end of the liquidation sale," however, they will be valid for in-store purchases only. New gift cards will no longer be available.
Bed Bath & Beyond and Nordstrom are just two of a long list of big-name American companies that have either scaled back or fully shut down stores in Canada in recent years. Among them are The Disney Store, Starbucks and Gap.
