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.
Nederland Laatste Nieuws, Nederland Headlines
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