Iconic Bed Bath & Beyond and Buy Buy Baby File for Chapter 11

Cole Schotz represented Bed Bath & Beyond, and their 72 affiliates, in their chapter 11 proceedings in the United States Bankruptcy Court for the District of New Jersey. The firm acted as co-counsel with Kirkland & Ellis LLP.  At its peak, Bed Bath & Beyond operated the largest home furnishing retailer in the United States and as of the commencement of the Chapter 11 cases operated 360 stores. The company also owned the BuyBuy Baby chain that operated 120 stores as of the commencement of the cases. The Debtors secured post-petition financing which provided them with sufficient liquidity to pursue a sale of their intellectual property for both the Bed Bath & Beyond and BuyBuy Baby brands, certain leasehold interests and to liquidate their inventory through going out of business sales. The Debtors confirmed their chapter 11 plan in September 2023, which established a liquidating trust for the benefit of creditors. Cole Schotz’s Michael Sirota, Warren Usatine, Felice Yudkin and David Bass led the bankruptcy representation for the firm, along with John Park on the real estate matters and Randi Kochman and Marissa Mastroianni on the employment matters.