Bankrupt retail company Bed Bath & Beyond is reportedly seeking tens of millions of dollars from container shipping lines after the organization claimed that several ocean carriers “willfully abandoned service commitments” at the peak of supply chain turbulences in order to make enormous profits from exploiting market turmoil, according to The Wall Street Journal.
Bed Bath & Beyond filed a complaint April 27 with U.S. Federal Maritime Commission, just days after declaring bankruptcy, stating that Orient Overseas Container Line (OOCL) participated in “brazen price gouging and profiteering” business practices that wound up costing the world-famous retailer $31.7 million in extra freight charges, additional costs and lost profits.
“Bed Bath & Beyond’s April 27 filing at the FMC appears to be one of the more far-reaching of the complaints, alleging aggressive and continuing action by OOCL to turn away hundreds of the retailer’s boxes while offering the company space on vessels from Asia to the U.S. at premium prices,” writes The Wall Street Journal’s Paul Berger. “The retailer is seeking to recoup as much money as possible as it winds down its business and looks to pay off creditors after filing for Chapter 11 bankruptcy.”
Read more: Bed Bath & Beyond Liquidates Business
A Bed Bath & Beyond representative did not immediately respond to a request for comment from The Wall Street Journal.
This was not the first time that Bed Bath & Beyond has filed this type of complaint against a shipping company. The organization also submitted a similar claim against Yang Ming Marine Transport seeking $7.8 million due to alleged ocean transport contract breaches. In April 2023, Yang Ming Marine Transport filed a lawsuit in a federal Manhattan court to block Bed Bath & Beyond from pursuing that claim.
