Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy
Publishing timestamp: 2023-02-07 12:38:13
Summary
Bed Bath & Beyond has proposed a stock offering that could infuse more than $1 billion into the company. The company has also secured a $100 million loan from Sixth Street Partners and B. Riley Securities will be the sole bookrunner for the offering. The cash infusion will be used to pay some of the retailer's debts and whatever is left over will be used to aid the company's attempt at a turnaround. Analysts have described the move as a last ditch effort to save the company, which could still be liquidated if the deal doesn't work out.
Sentiment: MIXED
Tickers: BBBY,
Keywords: corporate bonds, retail industry, breaking news: business, corporate bankruptcy, business news, business, markets, bed bath & beyond inc,
Source: https://www.cnbc.com/2023/02/07/bed-bath-beyond-funding-bankruptcy-worries.html