Bed Bath & Beyond is exploring all options, including bankruptcy reorganization. It’s been closing stores in recent months.
Bed Bath & Beyond, which as recently as late 2021 spent $600 million buying back its stock, is in a cash crunch. JPMorgan Chase, Sixth Street and other lenders have cut it off. It could find a buyer but that hasn’t happened yet.
Bed Bath & Beyond is exploring all options, including bankruptcy reorganization. On Friday, the chain said it would close 87 more stores, including the entire Harmon drugstore chain, which operates in the Northeast. The retailer went through an unsuccessful turnaround under former CEO Mark Tritton, who was brought in from Target in 2019 and left the company in June.
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