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Search resuls for: "Jessica Dinapoli Mike Spector"


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☆ Exclusive: Bed Bath & Beyond preparing to file bankruptcy as soon as this week -sources
  + stars: | 2023-01-31 | by ( Jessica Dinapoli Mike Spector | Jessica Dinapoli | Mike Spector | ) www.reuters.com   time to read: +3 min
The firm loaned Bed Bath & Beyond $375 million last year. The chain has said it is closing 87 Bed Bath & Beyond stores and five buybuy BABY stores, in addition to 150 closures announced last year. Bed Bath & Beyond said last week it defaulted on a loan, bringing it closer to bankruptcy. Sources have also told Reuters that Bed Bath & Beyond is considering skipping debt payments due on Feb. 1, a typical move that distressed companies take to conserve cash. Bed Bath & Beyond reported a loss of about $393 million after sales plunged 33% for the quarter ending Nov. 26.
☆ Exclusive: Bed Bath & Beyond preparing to file bankruptcy as soon as this week
  + stars: | 2023-01-31 | by ( Jessica Dinapoli Mike Spector | Jessica Dinapoli | Mike Spector | ) www.reuters.com   time to read: +3 min
The firm loaned Bed Bath & Beyond $375 million last year. The chain has said it is closing 87 Bed Bath & Beyond stores and five buybuy BABY stores, in addition to 150 closures announced last year. Bed Bath & Beyond said last week it defaulted on a loan, bringing it closer to bankruptcy. Sources have also told Reuters that Bed Bath & Beyond is considering skipping debt payments due on Feb. 1, a typical move that distressed companies take to conserve cash. Bed Bath & Beyond reported a loss of about $393 million after sales plunged 33% for the quarter ending Nov. 26.
☆ Bed Bath & Beyond exploring options including bankruptcy, shares crater
  + stars: | 2023-01-05 | by ( Jessica Dinapoli Mike Spector | Jessica Dinapoli | Mike Spector | ) www.reuters.com   time to read: +3 min
Jan 5 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) on Thursday said it was exploring options including a bankruptcy filing to address the U.S. home goods retailer's plunging sales, dwindling cash and debt load, sending its shares tumbling. Bed Bath & Beyond said it expects to report a third-quarter loss of $385.5 million after sales plunged 33%. The stock was one of the most active on the Nasdaq, with nearly 9.4 million shares traded as of 09:37 ET. Bed Bath & Beyond's fortunes dwindled and its stock collapsed in value after it pursued a strategy focused on its own private-label goods. Activist investor Ryan Cohen, the chairman of GameStop Corp (GME.N), took a stake in Bed Bath & Beyond, which he later sold, sending shares crashing.
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