Hugh: Bed Bath & Beyond Winding Down Operations in Canada

Another large retailer is getting ready to close up shop across the country. Bed Bath & Beyond Canada Ltd. was granted an order for creditor protection and is insolvent. Court documents from yesterday allow the company to wind down the business and liquidate inventory. Reports show that the company had a net loss of $99.5 million dollars in a nine-month period ending last November. The American arm of the business suggests they are no longer able to provide operational or financial support to the Canadian stores, so it’s only a matter of time until all Canadian stores close.