Bed Bath & Beyond Inc.’s bankruptcy could benefit a host of retailers, according to data from analytics company Placer.ai.
Bed Bath & Beyond Inc.’s bankruptcy could benefit a host of retailers, according to data from analytics company Placer.ai. (Photo by Scott Olson/Getty Images)
Bed Bath & Beyond Inc.’s bankruptcy could benefit a host of retailers, according to data from analytics company Placer.ai.
The struggling home goods retailer and sometime meme stock darling filed for Chapter 11 last month, and the company’s bankruptcy is likely to benefit two categories of retailer, according to Placer.ai. “First, chains looking to expand their brick-and-mortar footprint will be able to snap up retail vacancies created by the store closures,” wrote Placer.ai’s Marketing Content Manager Shira Petrack, in a…
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The news of the iconic home retailer, Bed Bath & Beyond, filing for bankruptcy has sent shockwaves throughout the retail industry as consumers wonder what will become of their beloved retailer. Despite this unfortunate news, there may be hope yet as various retailers have been identified as potential buyers of the company’s assets.
First on the list is Accent Group, a prominent competitor that recently acquired the footwear chain, Hype DC. The company is actively pursuing a takeover of the retailer and is likely to benefit the most from purchase of the chain’s assets. With Accent Group’s ability to leverage the brand’s loyalty and expertise, expansion of the retailer’s presence in Australia could become a reality.
Target is another potential buyer, as the store has been working to bolster its position on the Australian market in recent years. Target’s acquisition of Bed Bath & Beyond would allow the store to access the retailer’s extensive portfolio of product lines, giving its customers access to a greater range of items. Furthermore, Target would be able to capitalize on the Bed Bath & Beyond loyalty program, allowing the store to offer enhanced rewards to customers.
The third potential buyer is Woolworths, which has already invested heavily in the home-services industry. With a takeover of Bed Bath & Beyond, Woolworths could rapidly expand its presence in the market and leverage its existing infrastructure. This would allow the retailer to add new store locations, as well as tap into the brand’s excellent range of products.
Finally, Amazon could be a potential buyer of Bed Bath & Beyond as the online giant has been diversifying its offerings into the home-goods space. An acquisition of Bed Bath & Beyond would allow the retailer to dramatically expand its presence in the home-retailing industry and further solidify its presence in Australia.
All in all, there are many potential buyers of the Bed Bath & Beyond assets, giving Australian consumers hope that their favorite retailer will not disappear into the void. Although the store’s bankruptcy is a setback, retail companies such as Accent Group, Target, Woolworths, and Amazon will likely be key players in the continuation of the beloved home retailer.
