If it’s not able to raise sufficient money from the offering, the home furnishings giant said Thursday it expects to “likely file for bankruptcy.” Bed Bath & Beyond was able to initially avoid bankruptcy in February by completing a complex stock offering that gave it both an immediate injection of cash and a pledge for more funding in the future to pay down its debt. That offering was backed by private equity group Hudson Bay Capital.
But on Thursday, Bed Bath & Beyond said it was terminating the deal with Hudson Bay Capital for future funding and is turning to the public market. Success there would give the company time to pursue a turnaround without a bankruptcy filing, which can be costly, out of its control and wind up in a liquidation. Meanwhile, the company is shrinking to save money. It plans to close around 400 of its roughly 760 Bed Bath & Beyond stores – but will keep open profitable stores in key markets.
But they won't lower their prices tho.
That's certainly going to help the stock price...
About 8 years ago Bed Bath and Beyond turned so basic. CEO’s who earn millions should be experts at what they do. Their work was mediocre.
Anyone want to buy a $30,000 loofah?
They actually have a buyer?
Who would have predicted people don’t want to buy something for twice the price of what it costs on Amazon?
Go woke, go broke. Mypillow kept them afloat.
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Fonte: CNBC - 🏆 12. / 72 Leggi di più »
Fonte: Forbes - 🏆 394. / 53 Leggi di più »