Bed Bath & Beyond reporting major losses, possibility of bankruptcy filing coming soon

A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Johnny Milano | Bloomberg | Getty Images

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Bed Bath & Beyond looks for capital infusion, buyer ahead of likely bankruptcy filing
  • The retailer is in the midst a sale process in hopes of finding a buyer that would keep the doors open for both of its major chains, its namesake banner and Buybuy Baby, said the people, who weren’t authorized to discuss the matter publicly.
  • A Bed Bath spokeswoman said Wednesday the company doesn’t comment on specific relationships but has been working with strategic advisers to evaluate all paths to regain market share and enhance liquidity.
  • Earlier this month Bed Bath warned it may need to file for bankruptcy after its turnaround plans failed to substantially boost sales and repair its balance sheet.
  • The company reported net losses that exceed $1.12 billion for the first nine months of the fiscal year.

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