Bed Bath & Beyond warns it can't pay down debts, defaults on credit line
Publishing timestamp: 2023-01-26 16:43:12
Summary
Bed Bath & Beyond has defaulted on its credit line with JPMorgan and is warning of potential bankruptcy. The company is attempting to cut costs and is in discussions to secure financing, but is also preparing for a potential Chapter 11 filing in U.S. Bankruptcy Court. Shares of Bed Bath plunged Thursday afternoon, prompting brief trading halts.
Sentiment: NEGATIVE
Tickers: BBBY,
Keywords: business, corporate bankruptcy, retail industry, corporate bonds, business news, breaking news: business, bed bath & beyond inc,
Source: https://www.cnbc.com/2023/01/26/bed-bath-and-beyond-warns-it-doesnt-have-cash-to-pay-debts.html