Bed Bath & Beyond Files For Bankruptcy - But Is It Related To Wokeness?

The home goods giant Bed Bath & Beyond has filed for Chapter 11 bankruptcy. When they canceled conservative owner Mike Lindell of My Pillow products in January 2021, their stock prices steadily dropped to bankruptcy. Coincidence?

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The retail giant that has been in business for decades, Bed Bath & Beyond, and has ruled the home goods retail world for much of its time has just collapsed and officially filed for bankruptcy protection. 

Bed Bath & Beyond is... actually now 'was', a popular American chain of retail stores that offered a wide range of home goods, decor, and lifestyle products. The company was founded in 1971 and had expanded to over 1,500 locations across North America. Bed Bath & Beyond was known for its extensive selection, affordable prices, and customer-friendly policies such as accepting expired coupons. 

But now it accepted a different fate - bankruptcy. 

However, the circumstances surrounding the retail giant's state of financial distress comes with pretty peculiar facts. Bed Bath and Beyond's stock price hit a longtime high at over $36 per share in January 2021, around the time the 2020 elections were questioned.  

Mike Lindell, CEO of My Pillow

Coincidentally, (or not) that was the approximate same time frame of the January 6 Capitol protests. Mike Lindell, CEO of My Pillow and strong conservative advocate, has been a vocal supporter of former President Donald Trump and has made several intriguing claims about the 2020 U.S. presidential election. He has claimed that widespread voter fraud occurred during the election and that Trump was the rightful winner.

Lindell has also released a three-hour documentary called "Absolute Proof," which provides evidence of voter fraud in the 2020 elections.

Bed Bath & Beyond then decided to cut ties with My Pillow in early 2021 after Mike Lindell made claims about voter fraud.

In a statement made at the time, Bed Bath & Beyond cited "underperformance" of My Pillow products as the reason for the decision to discontinue the products. However, the move was widely seen as a response to Lindell's controversial statements about the election.

Since Bed Bath & Beyond decided to remove the My Pillow products from their shelves, their stock prices slowly dwindled from a longtime high of $36 per share to a dismal $3 per share approximately two years later. An image of the BBBY stock values, courtesy of Google Finance.

Despite attempts from Bed Bath & Beyond to raise capital to save the company, it ultimately failed. In a statement from a Fox Business column, they stated, "The company has warned since January that it may have to file for bankruptcy due to its shockingly poor sales during the 2022 holiday season. The home goods retail store's last-ditch efforts to raise cash to cover costs failed this weekend."

Align Us Assessment

We cannot rightfully say that Bed Bath & Beyond's decision to drop My Pillow from its stores led to their ultimate downfall. But we can say it is interesting and the reason why we have a woke meter. Our Align Us woke meter has the ability to move from left to right and vice versa, based on whatever actions and circumstances exist.

It is meant to give you the most up-to-date information for you to act on. It is also reliant on your feedback and comments to help us determine an accurate "wokeness" level. Which is all possible with the touch of a few buttons on the Align Us App.

-Align Us


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Rebecca
1 year ago

BB & B is not just filing bankruptcy, they are going completely out of business. They supposedly have everything on sale but it seems they raised said prices prior to putting them on sale.

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Brenda J Seidlitz
Brenda J Seidlitz
1 year ago

I stopped going to them after they dropped My Pillow products. Did the same thing with Khols. Stopped supporting Ben and Jerry's when they sold thrir company.

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