Bed Bath & Beyond says it’s running out of cash and is considering bankruptcy.
Bed Bath’s debt load has been weighing on the company. The retailer has nearly $1.2 billion in unsecured notes, which have maturity dates spread across 2024, 2034 and 2044. In recent quarters, Bed Bath has warned it’s been quickly burning through cash.Bed Bath has been through an especially tumultuous stretch, with the departure of its CEO and other top executives, company-wide layoffs, store closures and an overhaul of its merchandise strategy.
“Transforming an organization of our size and scale requires time, and we anticipate that each coming quarter will build on our progress,” she said.
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