Bed Bath & Beyond to close all stores after filing for bankruptcy protection.

Bed Bath & Beyond has filed for bankruptcy protection and anticipates closing all of its stores by June 30. The company has struggled with weak sales and numerous failed turnaround plans, as well as lagging behind in online strategy and competition from other retailers. The bankruptcy filing comes after the company failed to secure funds to stay afloat. The store closings will put thousands of jobs at risk. The company employed 14,000 workers, according to the court filing.