Beleaguered retailer Bed Bath & Beyond is offering $300 million in stock in a last ditch effort as it warns of bankruptcy, again.
Bed Bath & Beyond said Thursday it is offering $300 million in stock as the company warns, once again, it may need to file for bankruptcy protection.In February Bed Bath & Beyond proposed a stock offering that would infuse $1 billion into the company, then considered a last-ditch effort by the retailer to stay out of bankruptcy court.An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey.
The beleaguered retailer said in a securities filing Thursday that its lenders downsized its loan. If it doesn't receive proceeds from the stock offering, Bed Bath & Beyond warned Thursday it will likely need to file for bankruptcy protection.In addition, the company disclosed that the loans it secured last year were downsized.
in February that had been expected to infuse more than $1 billion in equity into the company. From that offering Bed Bath brought in $225 million, which it used to pay some of its debts. Yet Bed Bath's stock price has been on a precipitous decline in recent months, weighing on its fundraising efforts. On Thursday its stock was down 6% to 75 cents a share.
On Thursday the company also reported preliminary results for its fiscal fourth quarter, with net sales of roughly $1.2 billion and comparable store sales declining in the range of 40% to 50%. The company noted negative operating losses have continued, although it noted it hasn't depleted its free cash flow.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bed Bath & Beyond laying off 1,300 just before N.J. law requiring severance takes effectState Sen. Joe Cryan sponsored the law that would require severance pay for victims of mass layoffs.
Weiterlesen »
How I’d Redo My Baby Registry: With a Japanese Oatmeal Bath and an Airplane BedAmerie shares the essentials she still uses with her son, River.
Weiterlesen »
Bed Bath & Beyond stock sinks toward record low after $300 stock offering, which represents more than triple the retailer’s market valueShares of Bed Bath & Beyond Inc. sank 3.6% toward a record low in morning trading Thursday, after the troubled home goods retailer said it launched an...
Weiterlesen »
Manifest Your Intentions With TikTok’s #SpiritualBath TrendSpiritual practitioners explain how to prepare a bath with intention.
Weiterlesen »
Kendall Jenner lounges in bed in sheer tank dress amid Bad Bunny romance“you forgot your bra at my house,” one fan commented on one of the model’s Instagram posts showcasing the sultry shots.
Weiterlesen »
Kendall Jenner Lounges on a Bed in a Sheer White Tank and No BraQueen of the edited wardrobe.
Weiterlesen »