Tag Archives: Bed Bath & Beyond

CNBC reports: Bed Bath & Beyond on Sunday filed for Chapter 11 bankruptcy protection after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour. The struggling home goods retailer has been warning of a potential bankruptcy since early January, when it issued a “going concern” notice that it may not …

ABC News reports: Bed Bath & Beyond told Nexstar Monday that it will be closing 87 additional stores, an announcement that comes days after the beleaguered home goods chain said it had defaulted on its loans. Bed Bath & Beyond said the closures are being done to increase efficiency as the company works with advisors to “consider multiple paths” as …

The New York Times reports: Bed Bath & Beyond, the beleaguered home goods retailer, warned investors on Thursday about the darkening prospects for its future, saying that bankruptcy was a possible option. The company reported preliminary earnings, noting lower sales and slower foot traffic compared to the prior year. The company said its sales were about $1.3 billion for the …

The New York Post reports: The chief financial officer of troubled Bed Bath & Beyond has been identified as the man who jumped to his death from the iconic new Tribeca skyscraper known as the “Jenga Building,” The Post has learned. Gustavo Arnal, 52, who was also an executive vice president for the struggling home goods retailer, plunged from the …

Reuters reports: Bed Bath & Beyond Inc on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Investors, however, remain concerned that the retailer’s plan, announced in a strategic update, will do little …