Bed Bath & Beyond is looking for financing to keep it afloat during a bankruptcy process, and continued discussions with prospective buyers, according to people familiar.
that exceed $1.12 billion for the first nine months of the fiscal year. It's blown through its liquidity in recent months, shouldered a heavy debt load, and faced strained relationships with its suppliers.ended Nov. 26. Company leaders said the company has had a harder time keeping shelves stocked, as vendors change payment terms or decide not to ship merchandise because of the retailer's financial challenges.in an attempt to further cut costs.
One possible buyer circling Bed Bath is private equity firm Sycamore Partners, according to the people familiar with the discussions. Sycamore is particularly interested in Buybuy Baby, Bed Bath's banner for infants and toddlers, which has outperformed the broader company. Buybuy Baby has been deemed most likely to survive going forward, the people said.
Sycamore is known for acquiring retailers, like women's apparel chain Talbots, including distressed companies that have sought bankruptcy attention like Ascena's Ann Taylor. A Sycamore Partners spokesperson declined to comment.Bed Bath has also drawn interest from companies that acquire the intellectual property, or brands, of companies, particularly those under distress, the people said.
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