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Top related persons:
Thrasio - 1 Holly Etlin - 1 Kirkland - 1 Ellis - 1 Gursimran Kaur - 1 Subhranshu Sahu - 1
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New York Silver Bengaluru
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Thrasio Holdings - 1 Wall Street - 1 Thomson - 1 & $ - 1 & $ - 1

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8 mentions found


☆ Amazon aggregator Thrasio prepares for bankruptcy - WSJ
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +1 min
Nov 16 (Reuters) - Thrasio Holdings, which acquires third-party sellers on Amazon (AMZN.O), is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday. The aggregator did not immediately respond to a Reuters' request for comment. In 2021, Thrasio said it had raised $1 billion in a funding round led by private equity firm Silver Lake, taking its total funding to $3.4 billion. The company has been working with law firm Kirkland & Ellis to explore restructuring options, the Journal had reported in September. Reporting by Gursimran Kaur in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
Persons: Thrasio, Holly Etlin, Kirkland, Ellis, Gursimran Kaur, Subhranshu Sahu Organizations: Thrasio Holdings, Wall Street, Thomson Locations: New York, Silver, Bengaluru
☆ Amazon, Target, and Walmart will be the biggest winners from Bed Bath & Beyond's demise
  + stars: | 2023-05-02 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +4 min
Bed Bath & Beyond has filed for bankruptcy and is conducting an "orderly wind down" of its stores. 1 in several of the categories that Bed Bath & Beyond is best known for: kitchen and bathroom supplies, decor, storage, and bedding. Consumers will have fewer options with the demise of Bed Bath & Beyond, said Peter Greene, Numerator's Insights Practice Director for General Merchandise, in a statement. "Bed Bath & Beyond was slow to embrace and adopt the e-commerce boom, which was pioneered, advanced, and utilized to great success by direct competitors like Target, Walmart, and Amazon," Bed Bath & Beyond CFO Holly Etlin wrote in bankruptcy filings. Bed Bath & Beyond's sales plummeted from $11.1 billion in 2019 to an estimated $5.4 billion in 2022.
☆ Bed Bath & Beyond vows it can pull off a sale – here's what that means for shareholders
  + stars: | 2023-04-24 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +5 min
Bed Bath & Beyond is confident it can offload its names and stores after it declared bankruptcy, but shareholders are expected to be wiped out as its stock plummets. "Bed Bath & Beyond has pulled off long shot transactions several times in the last six months, so nobody should think Bed Bath & Beyond will not be able to do so again. To the contrary, Bed Bath & Beyond and its professionals will make every effort to salvage all or a portion of operations for the benefit of all stakeholders," she added. The likelihood of finding a buyer will come down to how much Bed Bath and Buy Buy Baby's names are worth. As of late November, Bed Bath & Beyond had about $4.4 billion in assets and $5.2 billion in debts, court filings show.
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☆ Bed Bath & Beyond files for bankruptcy after running out of options
  + stars: | 2023-04-23 | by ( Sam Tabahriti | Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
Bed Bath & Beyond filed for Chapter 11 protection in New Jersey Sunday, a court filing showed. The retailer had suffered from sliding sales, making its financial position increasingly precarious. The US home goods retailer warned last year that it had "serious doubt" about surviving after grappling with sliding sales. In another last-ditch move, Bed Bath & Beyond tried this month to raise $300 million from other investors. Holly Etlin, who was appointed as interim CFO in February, has been tapped by the company to serve as chief restructuring officer and will oversee the liquidation and sale process, the Chapter 11 filing shows.
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☆ Bed Bath & Beyond moves to raise $1 bln to avoid bankruptcy
  + stars: | 2023-02-07 | by ( Noor Zainab Hussain Mike Spector Jessica Dinapoli | Noor Zainab Hussain | Mike Spector | ) www.reuters.com   time to read: +4 min
Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. Bed Bath & Beyond also appointed Holly Etlin, a bankruptcy expert, as interim chief financial officer. "It’s a similar situation in which a deeply financially distressed company is attempting to sell securities," said Lynn LoPucki, a professor at the University of Florida. Sources have told Reuters that Bed Bath & Beyond has lined up liquidators to close additional stores unless a last-minute buyer emerges.
☆ Bed Bath & Beyond is closing 150 more stores
  + stars: | 2023-02-07 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Bed Bath & Beyond is closing 150 more stores — just a week after the struggling retailer announced the closure of 87 locations. Bed Bath & Beyond held talks in recent days with an investment firm to underwrite a significant portion of the proposed offering, according to Reuters. Company’s troublesFounded in 1971, Bed Bath & Beyond became a staple for affordable home decor, kitchenware and college dorm room furniture. Many shoppers switched to those competitors as the novelty of Bed Bath & Beyond’s coupons faded. The company was also hit hard during the pandemic, closing stores temporarily during 2020 while rivals remained open.
☆ Bed Bath & Beyond moves to raise $1 bln as bankruptcy clouds loom
  + stars: | 2023-02-06 | by ( Noor Zainab Hussain | ) www.reuters.com   time to read: +2 min
Feb 6 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants, in a last-ditch effort to stave off bankruptcy. Bed Bath said it was planning to raise about $225 million through an offering of Series A convertible preferred stock and an additional $800 million by issuing securities to buy shares of preferred stock in future installments. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. On Monday, Bed Bath said it planned to close an additional 150 stores, on top of 250 previously announced store closures. Sources have told Reuters that Bed Bath & Beyond has lined up liquidators to close additional stores unless a last-minute buyer emerges.
☆ Bed Bath & Beyond moves to raise $1 billion to avoid bankruptcy
  + stars: | 2023-02-06 | by ( ) edition.cnn.com   time to read: +3 min
Bed Bath & Beyond said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants in a last-ditch effort to stave off bankruptcy. Bed, Bath & Beyond held talks in recent days with an investment firm to underwrite a significant portion of the proposed offering, two people familiar with the matter said. Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. “It’s a similar situation in which a deeply financially distressed company is attempting to sell securities,” said Lynn LoPucki, a professor at the University of Florida.
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