The Chronic Consumer

For some reason, a lot of people seem to think that Bed, Bath & Beyond is preparing to file for bankruptcy protection from creditors, but that’s not the case at all. From what I’ve been able to gather, it’s actually competitor Linens ‘N’ Things that was facing the prospect of bankruptcy, stemming from their inability to pay $16.1 million in interest fees for the first quarter of 2008.

But after doing some more research, I learned that Linens ‘N’ Things ended up deferring the payment and staving off bankruptcy — at least for the time being.

This is good news for consumers, who were perhaps looking at a repeat of what happened when Sharper Image filed for bankruptcy and stopped accepting their own gift cards.

For now, it appears that you won’t have to worry about that. Linens ‘N’ Things has not filed for bankruptcy yet, and the Bed, Bath & Beyond bankruptcy rumor was just that — a rumor.

Still, it might be a good idea to start using up those gift cards if you have them!