Bed Bath & Beyond closing 120 stores, laying off 20% of corporate after securing $500m in finan...
Bed Bath & Beyond closing 120 stores, laying off 20% of corporate after securing $500m in financing
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The Facts Inside Our Reporter’s Notebook U.S. retailer Bed Bath Beyond said it was laying off a large percentage of its corporate workforce and shuttering over 100 of its stores after it secured half a billion dollars in financing to try and stay afloat amid major financial difficulties.
The company said in a news release on Wednesday that it had "secured financing commitments for more than $500 million of new financing" and was further planning an at-the-market offering program "for up to 12 million shares of common stock."
Yet the major new line of credit did not stop the company...
Source: https://justthenews.com/nation/economy/bed-bath-beyond-closing-120-stores-laying-20-corporate-after-securing-500m-financing?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators
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