Bed Bath & Beyond filed on Sunday for Chapter 11 bankruptcy.

The company's 360 stores -- along with its 120 buybuy BABY stores -- are expected to remain open as the retailer begins its bankruptcy restructuring, according to a statement released Sunday. Online sales are also expected to continue.

Sue Gove, president & CEO, said the company would work "diligently to maximize value for the benefit of all stakeholders."

"We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process," Gove said.

This is a developing story. Please check back for updates.