The company said it planned to close an additional 150 stores, on top of 250 previously announced store closures.
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Bed Bath & Beyond has been part of the meme stock phenomenon, with shares skyrocketing as much as 400% last year when activist investor and GameStop Corp chairman Ryan Cohen took a stake and sought changes.Article content Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said.
Bed Bath & Beyond also appointed Holly Etlin, a bankruptcy expert, as interim chief financial officer. On Monday, Bed Bath said it planned to close an additional 150 stores, on top of 250 previously announced store closures.Bed Bath & Beyond said in January it had defaulted on a loan from JPMorgan Chase Bank N.A. Bloomberg News reported that the company’s efforts to find a buyer had also stalled.
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