Bed Bath & Beyond said in a statement released before markets opened Thursday that it is considering bankruptcy among other measures to stay in business after a brutal third quarter.
"The Company continues to consider all strategic alternatives including restructuring or refinancing its debt, seeking additional debt or equity capital, reducing or delaying the Company's business activities and strategic initiatives, or selling assets, other strategic transactions and/or other measures, including obtaining relief under the U.S. Bankruptcy Code,"The Union, New Jersey-based company was scheduled to report its fiscal third quarter results for the period ended Nov.
Sue Gove, president and CEO of Bed Bath & Beyond, said reduced credit limits resulted in less product availability in stores during the quarter and that the company has already leveraged the liquidity gained from holiday season to bulk up inventory from key vendors.
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