Bed Bath & Beyond has filed for bankruptcy after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour.
The company was able to make its interest payments using funding gained from the first stock offering, but at the time it warned it would"likely" have to file for bankruptcy and see its assets liquidated if the deal didn't go as planned.and lender Sixth Street that were reduced in late March after its second stock offering was announced.
At a popular Bed Bath outpost in New York City, a since laid-off staffer recently told CNBC that workers were standing around not knowing what to do after the company suddenly cut off in-store pickup and deliveries at the location. The worker was told liquidators would be coming the following day and soon learned employees wouldn't receive severance after more than two decades with the company.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bed Bath & Beyond files for bankruptcy protection after long struggleBed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat.
Baca lebih lajut »
Bed Bath & Beyond files for Chapter 11 bankruptcyBed Bath & Beyond filed on Sunday for Chapter 11 bankruptcy, the retailer said in a press release.
Baca lebih lajut »
Bed Bath & Beyond stiffed thousands of workers on severance pay | CNN BusinessIn early February, Diane Zaccagna learned that the Bed Bath & Beyond store in New Jersey where she had been working for 18 and a half years was closing and she would be laid off.
Baca lebih lajut »
Bed Bath & Beyond considers asset sales, Sixth Street bankruptcy loan - Bloomberg NewsBed Bath & Beyond Inc is considering sales of assets and intellectual property as part of a potential bankruptcy filing that could come as soon as this weekend, Bloomberg News reported, citing people with knowledge of the situation.
Baca lebih lajut »