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Bed Bath & Beyond put together a financing package that gives it some breathing room as it struggles to survive. Bed Bath & Beyond Inc. couldn’t get banks to lend it money, but the troubled retailer found one hedge fund willing to bet on its stock. Bed Bath & Beyond landed a do-or-die rescue deal that takes bankruptcy off the table for now. Shares, which have surged in recent weeks despite the company’s dire situation, tumbled by nearly 50% early Tuesday as the new financing will dilute existing shareholders.

☆ Bed Bath & Beyond stock is headed to $0 as the struggling retailer works on a 'last gasp' effort to stave off bankruptcy, Wedbush says
▼ + stars: | 2023-02-07 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond's price target was cut to $0 at Wedbush Securities on Tuesday. The struggling retailer is rushing to raise funds to avoid bankruptcy but it's facing a slate of high-execution risks. Bed Bath & Beyond's market capitalization was around $372 million as of Tuesday, far below its peak of $6.4 billion in January 2021. Bed Bath & Beyond, which missed a bond payment this month, said plans to close an additional 141 stores. Wedbush estimated that additional capital coming into Bed Bath & Beyond would provide it with "just a few more quarters" to turn around its operations.

☆ Hooters dispels rumors that it's shutting down and rebranding in response to study that claims millennials 'aren't that into boobs'
▼ + stars: | 2022-12-29 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

A viral tweet falsely claimed Hooters is shutting down and rebranding to appeal to millennials. "There is no validity to this story," Hooters of America said in a statement shared with Insider. The tweet — posted by Daily Loud, a website focused on hip-hop and viral news — claimed Hooters "was shutting down and 'rebranding' after a new study found that millennials 'aren't that into boobs.'" The 2017 study by Pornhub found younger people were less likely to search for breasts on pornography websites. After a series of viral TikTok videos shared by staffers, Hooters adjusted its policy to make the new uniforms optional.

☆ UK's Superdry positive on second half as jacket sales surge to record
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

Dec 22 (Reuters) - Britain's Superdry (SDRY.L) on Thursday signalled a strong start to the second half as online jacket sales hit a record high amid the Black Friday shopping spree and a recent spell of colder weather, sending its shares about 17% higher. The fashion retailer also reported first-half revenue growth of 3.6%, but struck a cautious note on outlook as the sector steers through rising expenses and a worsening cost-of-living crisis in the UK. "We are under no illusions that consumer confidence is fragile and that the picture is unlikely to change quickly," said Superdry Chief Executive Officer Julian Dunkerton. Superdry, best known for its sweatshirts, hoodies and jackets, said margin dilution stood at more than 200 basis points during the first half. The company also said it had agreed to a loan facility of up to 80 million pounds ($96.14 million) for three years with lender Bantry Bay Capital Ltd.($1 = 0.8321 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

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