2023-04-24 04:05:15
Bed Bath & Beyond, a major US home appliance retailer, It decided to file a petition to the court for receivership under Section 11 of the bankruptcy law on Sunday (April 23) following failing to raise funds to enable the company to continue its business.
Bed, Bath & Beyond previously said it was exploring options, including filing for bankruptcy. to solve the problem of collapsed sales cash shortage and insolvent debt
On Friday, Bed Bath & Beyond closed at 29 cents and valued the company at $136.9 million, plunging 88% so far this year.
The report said 360 Bed Bath & Beyond stores and 120 Buybuy Baby stores would remain open while the company filed for receivership. Yonde has filed with a New Jersey bankruptcy court seeking permission to auction off its BED, BATH & BEYOND and BY BY BABY brands following the company had previously decided to shut down all operations under its Harmon Face brand. Value (Harmon FaceValue)
On September 2, 2022, an unexpected event occurred. Bed Bath & Beyond Chief Financial Officer Gustavo Arnelle died in a fall from the Tribeca Tower. Also known as Jengka Building
Manhattan investigators believe that Mr Arnelle deliberately committed suicide by jumping from the Tribeca building. and it was noted that The incident comes just days following Bed Bath & Beyond announced the closure of 150 stores and layoffs to revitalize its struggling business.
By InfoQuest News Agency (24 Apr. ’23)
Tags: Bed Bath & Beyond, Retail, Bed Bath & Beyond
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