Bed Bath & Beyond said Wednesday that it secured more than $500 million in new financing and that it is closing stores and laying off staff as it seeks to fix its struggling business.
Bed Bath & Beyond said it’s close to securing financing and is putting in place a new business strategy to reduce costs as the troubled retailer tries to convince investors, vendors and customers that it has a credible survival plan. The home-goods retailer said it has received commitments for a
Bed Bath & Beyond will cut about 20% of its workforce and will close 150 underperforming stores. Shares fell more than 25% in premarket trading after the announcement.
Bed Bath & Beyond says that it will shutter stores and lay off workers in a bid to turn around its beleaguered business. The home goods retailer based in Union,
Bed Bath & Beyond said on Wednesday that it has secured $500 million in new financing, including a loan, as it seeks extra cash and confidence from suppliers ahead of the holiday season. The home goods retailer also said it is planning layoffs and store closures to cut costs.
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
