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The Street
The Street
Colette Bennett

Senator Elizabeth Warren Reveals Chaos Behind the Scenes as Bed, Bath & Beyond Crumbles

If there's anything that Sen. Elizabeth Warren (D-MA) is well-known for, it's being unafraid to speak her mind.

From her demands towards banks to explain their late fees to calling out how she believes crypto is funding the Fentanyl trade, the progressive Massachusetts senator has tirelessly pushed to right wrongs, which has earned her quite the fervent fanbase.

READ MORE: Elizabeth Warren Makes a Major Move to Crack Down on the Fed and Bank Execs

Now the latest target in Warren's sharp-eyed sights is the recently bankrupted Bed, Bath & Beyond (BBBY) -). Along with Sen. Corey Booker (D-NJ), the two penned a letter to CEO Sue Gove on July 5 that claims that the disgraced retailer has failed to pay severance to many of its workers who lost their jobs when store locations were shut down.

"We are writing today regarding recent reports that Bed Bath & Beyond failed to pay severance to thousands of workers who lost their jobs during the store closures leading up to the company’s bankruptcy, despite rewarding executives and shareholders with billions of dollars of stock buybacks over the last two decades," it reads. 

More Retail:

"As a result, the workers who ran your business, staffed your retail stores, and fulfilled online orders are being forced to shoulder the brunt of the losses, while shareholders and some executives walk away unscathed. We are seeking further information about Bed Bath & efforts to evade severance pay for its workers, and its plans to treat workers fairly."

The letter goes on to ask Gove what the company's plans are for the $240 million Bed Bath recently secured from Sixth Street Specialty Lending, and asking specifically if some of it will go toward employee benefits.

"Your company has a responsibility to your workers, and it’s clear that after years of putting profits for shareholders ahead of those responsibilities, and endangering the health of its business, Bed Bath & Beyond is still failing to treat retail employees with dignity in the bankruptcy process," the letter read.

TheStreet has reached out to Gove for comment.

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