TELETRADER News
1/5, 4:19 PM
(Source: TeleTrader)
Bed Bath & Beyond warns of possible bankruptcy
Bed Bath & Beyond warned Thursday of potential bankruptcy as the company continues to struggle with financial issues, being "negatively impacted by inventory constraints" and affected by "both micro- and macro-economic challenges," as stated by Sue Gove, President & CEO of Bed Bath & Beyond.
In the same statement, the company added that it has been exploring financial options to restructure the business. Seeking extra capital or selling assets were among the solutions mentioned, along with "obtaining relief under the US Bankruptcy Code."
Shares of Bed Bath & Beyond were down by 23% at 10:17 am ET to sell for $1.84.