Bed Bath & Beyond gets $120 million merchandise lifeline as it faces bankruptcy threat
Publishing timestamp: 2023-04-05 10:11:18
Summary
Bed Bath & Beyond has entered into a vendor consignment agreement with investment management company ReStore Capital, which will buy up to $120 million in merchandise from Bed Bath's key suppliers to boost inventory levels. The home goods retailer has been struggling to stock its shelves after relationships with its vendors soured, and the agreement is the company's latest effort to avoid bankruptcy. Bed Bath & Beyond has been exhausting all efforts to stay out of bankruptcy court after a series of dismal quarters plunged the company into the red and depleted its cash flow.
Sentiment: NEUTRAL
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Keywords: bed bath & beyond inc, breaking news: business, business news, retail industry, corporate bankruptcy, business, earnings,
Source: https://www.cnbc.com/2023/04/05/bed-bath-beyond-merchandise-lifeline.html