Current Events > Bed, Bath and Beyond files for bankruptcy

(+) Yeah! (+)

https://fox40.com/news/all-california-bed-bath-and-beyond-locations-closing-amidst-bankruptcy/

End of an era. I remember when

Back when I played WoW, there was a guild on my server called Blood Bath and Beyond.

All because they cancelled Mike Pillowpants Lindell

/s

I've only been there once. Bought an overpriced pillow.

Guess they are headed to the great beyond..

What are dead malls gonna do now with one of their key tenants gone?

It always just seemed that a overpriced TJ Maxx that's somehow organized even worse, and smells weird.

YellowSUV posted...

What are dead malls gonna do now with one of their key tenants gone?

They still have the far east trader. If they fold, then God help us.

Isnt this old news? They announced they were going out of business back in February.

YellowSUV posted...

What are dead malls gonna do now with one of their key tenants gone?

Bulldozed and replaced with apartments, a small strip-mall, and a chain-restaurant or two.

Questionmarktarius posted...

Bulldozed and replaced with apartments, a small strip-mall, and a chain-restaurant or two.

That... kinda sounds like a good thing tbh

Depressing but not surprising

They suffer more than most companies from the internet, everything online is cheaper and gets delivered right too you

Is there a single benefit to going to Bed, Bath and Beyond in person and buying stuff there directly? Other than if you enjoy the act of shopping.

Gonna have to keep an eye out for a going out of business sale from the one near me

If I'm bored and want to browse for random crap I would do that on Amazon or something

Bed Bath and Beyond was like the real life version of doing that

saspa posted...

That... kinda sounds like a good thing tbh

It's worked out pretty well for the two nearby malls that's happened to, yes.

YellowSUV posted...

What are dead malls gonna do now with one of their key tenants gone?

They were dying regardless. No idea why they never bothered to adapt while the internet was still growing.

Prismsblade posted...

No idea why they never bothered to adapt while the internet was still growing.

If they did adapt, they'd still be obsolete anyway.

Bed, Bath and Broke

They should make Click 2 to revitalize it

saspa posted...

That... kinda sounds like a good thing tbh

It's a very good thing. Not only do you get rid of a mall with generally weak tenants, but you also get rid of their parking lots which can take up more acres than the actually building. This in turn allows developers to build more dense housing.in my city, developers are actually given clearance to build taller and thus more dense if they set aside a certain percentage of apartments to be rented below MFI, so it introduces more workforce housing to the area (they only need like 80% MFI, so it's never truly capital A affordable). In addition, because mall lots are so huge, it's really likely the mall is redeveloped into a mixed-use development, with more proven retail (likely in stand alone buildings or a retail strip), some restaurant space, and small office buildings for commercial tenants.

Then, what was a failing mall with low foot traffic becomes a popular live/work/play neighborhood in town, and since it's a mall it already has an ideal location (lots of city's in the 80a/90s/2000s built up heavily around malls due to heavy customer traffic to those areas, so malls are generally in the more developed, retail friendly areas cities).

The BBBY subreddit is still full of 0 Kelvin iq users buying more and thinking the stock will surge somehow.

Why didnt they take advantage of the internet? They were pretty much a household name, it could have worked. And who wouldnt want furniture delivered to their home? Shopping for furniture sucks when you have to transport it yourself.

FactsKeepHurtin posted...

The BBBY subreddit is still full of 0 Kelvin iq users buying more and thinking the stock will surge somehow.

I remember a few months ago they were celebrating when the price went up like 2 dollars.

Questionmarktarius posted...

Bulldozed and replaced with apartments, a small strip-mall, and a chain-restaurant or two.

Problem is, the land would have to be re-zoned as a residential property.

That's why you see A LOT of empty stripmalls all over the country. Rezoning is expensive, and tends to get a lot of pushback from homeowners in the area.

bigblu89 posted...

Problem is, the land would have to be re-zoned as a residential property.

That's why you see A LOT of empty stripmalls all over the country. Rezoning is expensive, and tends to get a lot of pushback from homeowners in the area.

It's part of the reason yes, but a bigger reason you see so many empty strip malls is because they're not in ideal areas for retail anymore. Around the 1980s, America began developing it's retail core around malls and other big-box stores that drew in customers, but with malls dying off and Amazon allowing customers the option of not having to travel to make purchases, those city cores are dying out.

Rezoning empty strip malls isn't super hard, especially if you're in a growing city that understands the need for redevelopment of older lagging properties, but rezoning to residential can be difficult if the plans are for apartments specifically. People tend to not mind new homes, but they turn into NIMBYs the second an apartment complex is mentioned. The way to get around that is to create an intentional mixed-use development with a good mix of commercial and residential properties, which is ideal for the massive amount of land a mall takes up.

The big hurdle with a mixed-use development though is that if the city isn't growing, investors aren't going to give capital to a developer to build there.

Speaking of, I saw a video about why American highways/roads/infrastructure are so terrible and why the way Europeans design them is so much better, and it honestly convinced me. The video basically showed the equivalent of a boardwalk in a European city on cobblestone with shops on either side, and it was completely pedestrian based, no place for cars whatsoever.

While driving in Europe is miserable, having an entire city be designed around people and walking rather than cars and malls and mall parking lots and even strip malls does sound like a good idea.

saspa posted...

Speaking of, I saw a video about why American highways/roads/infrastructure are so terrible and why the way Europeans design them is so much better, and it honestly convinced me. The video basically showed the equivalent of a boardwalk in a European city on cobblestone with shops on either side, and it was completely pedestrian based, no place for cars whatsoever.

While driving in Europe is miserable, having an entire city be designed around people and walking rather than cars and malls and mall parking lots and even strip malls does sound like a good idea.

Car industry would never allow it. Make people dependent on cars to live a normal life and they can charge more money for every single one sold.

Fucking Amazon

Sexypwnstar posted...

@WingsOfGood

Never once ever did I even report on bbby

Bed, Bath and Bankruptcy

saspa posted...

Speaking of, I saw a video about why American highways/roads/infrastructure are so terrible and why the way Europeans design them is so much better, and it honestly convinced me. The video basically showed the equivalent of a boardwalk in a European city on cobblestone with shops on either side, and it was completely pedestrian based, no place for cars whatsoever.

While driving in Europe is miserable, having an entire city be designed around people and walking rather than cars and malls and mall parking lots and even strip malls does sound like a good idea.

I totally agree. This guy has a lot of good info and videos about this.

Further more, its not economically viable for a standard town to maintain a car-centric infrastructure. They do it my attracting more businesses (taxes) which in turn adds more infrastructure to maintain. After so long, as businesses fold, the bubble pops and you have terrible looking bankrupt towns.
https://youtu.be/ORzNZUeUHAM

HudGard posted...

Further more, its not economically viable for a standard town to maintain a car-centric infrastructure. They do it my attracting more businesses (taxes) which in turn adds more infrastructure to maintain. After so long, as businesses fold, the bubble pops and you have terrible looking bankrupt towns.

I know a website you'd like: https://www.strongtowns.org/

I thought this was the next short squeeze? What happened?

whitelytning posted...

I thought this was the next short squeeze? What happened?

Something something citadel something robinhood

https://twitter.com/QasimRashid/status/1650511111173677059

another example of how capitalism destroys everything

AceMos posted...

https://twitter.com/QasimRashid/status/1650511111173677059

another example of how capitalism destroys everything

Can you point out a system with no flaws?

AceMos posted...

another example of how capitalism destroys everything

That looks more like capitalism behaving exactly as intended - cash out and retire.

Monolith1676 posted...

Can you point out a system with no flaws?

post-scarcity, but it's an ordeal to get there.

Monolith1676 posted...

Can you point out a system with no flaws?

User: hey look legit corruption

Monolith: slllluuuuurrrppp but corruption is ok if Elon gets to be a billionaire I can live vicariously through him!

WingsOfGood posted...

User: hey look legit corruption

Monolith: slllluuuuurrrppp but corruption is ok if Elon gets to be a billionaire I can live vicariously through him!

What does anything in this topic have to do with Elon Musk?

In honor of Bed, Bath and Beyond, here's one of Family Guy's rare good cutaway jokes:

https://www.youtube.com/watch?v=g5rXBq7vyck

That Family Guy cut-away joke was funny the first few seasons they did good a job with those. Welp there goes a another big store at my mall I still work at closing and so many other stores moving out to the plaza across the street too. Right now we have Barnes and Noble, Best Buy and the shitty anchor big dpt retail store I still work at and stayed at for so long b/c I have no idea why. This mall is a unfunny joke. Trying to think of other big name stores here. But drawling a blank. Mostly just some other small scale things hanging around and places like Lenscrafters or Bath and Body Works just jumped ship because the mall defualts on mortgage or raise rent and it's just not a positive situation.

AceMos posted...

https://twitter.com/QasimRashid/status/1650511111173677059

another example of how capitalism destroys everything

Or, capitalism rewarding ownership as intended. Unions should be stronger than they currently are but I dont see an issue with owners of a company trying to cash out before the ship sinks. Seems reasonable.

whitelytning posted...

Or, capitalism rewarding ownership as intended. Unions should be stronger than they currently are but I dont see an issue with owners of a company trying to cash out before the ship sinks. Seems reasonable.

My retail store bends over backwards to encourage all associates to buy stock at a 15% discount. And then if you loose your shitty cashier job at BB&B you can just walk across the street to Kohls or whatever and get another job instantly. All those places are hiring.

whitelytning posted...

Or, capitalism rewarding ownership as intended. Unions should be stronger than they currently are but I dont see an issue with owners of a company trying to cash out before the ship sinks. Seems reasonable.

it sank because they cashed out

This was announced months ago...

"zero notice" lol as if any BBBY was blindsided by this

and since when do bankrupt companies give severance

After all the "if companies cant afford to pay their employees more then they shouldnt exist" this is what happens when companies stop existing - people lose their jobs

AceMos posted...

it sank because they cashed out

Not true. It sank because they couldnt keep the balance sheet in the black. People point to their reluctance to get into the online market. They essentially became the demo store for things people would buy on Amazon.