Bed Bath & Beyond

Bed Bath & Beyond's 2023 bankruptcy eliminated a 52-year-old American retail institution that had once dominated the home goods category with 1,500 stores and $12 billion in peak revenue. The company spent $11.8 billion on stock buybacks between 2004 and 2019 — money that could have funded digital transformation and store modernization — instead enriching shareholders while gutting its competitive position. Its meme stock moment in 2022 briefly revived its stock before the inevitable collapse.