Bed Bath and Beyond will wind down its operations in Canada, a court filing posted on the website of consultancy Alvarez \u0026amp\u003B Marsal showed.
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The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent,Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
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. The Union, New Jersey-based home goods retailer, which shot to popularity in the 1990s as a go-to shopping destination for couples making wedding registries and planning for new babies, has seen demand drop off in recent years as its merchandising strategy to sell more store-branded products flopped.
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.Share this article in your social network
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