Feb 10 (Reuters) - Bed Bath & Beyond's Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a U.S. bankruptcy.
The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy Alvarez & Marsal showed.
Bed Bath & Beyond in January had raised doubts about its ability to continue as a going concern just months after it announced more than $500 million in new financing, as well as job cuts and 150 store closures.
As of Nov. 26, the Bed Bath & Beyond banner in Canada had total assets of about $427.4 million and total liabilities of about $342.8 million, the filing showed.
Buybuy BABY Canada had assets worth $52.7 million and liabilities of about $86.9 million.
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