Bed Bath & Beyond again warns of bankruptcy if new stock offering doesn't pay off
Publishing timestamp: 2023-03-30 13:50:42
Summary
Bed Bath & Beyond is offering $300 million in stock as it warns of the possibility of filing for bankruptcy protection again. The company has been struggling and searching for buyers to avoid bankruptcy. If the proposed stock offering does not pay off, the company will likely need to file for bankruptcy. The company's loans were also downsized, and it will now be responsible for monthly interest payments. The company's stock price has been declining, and on Thursday, it was down roughly 17% to below 70 cents per share. The company reported negative operating losses and a decline in comparable store sales for its fiscal fourth quarter.
Sentiment: NEGATIVE
Tickers: BBBY,
Keywords: dividends, corporate bankruptcy, stock markets, earnings, retail industry, bed bath & beyond inc, business news, corporate bonds, business,