Stock Market News
Bed Bath & Beyond shares collapsed due to bankruptcy rumors
2023.01.05 08:42
Bed Bath & Beyond shares collapsed due to bankruptcy rumors
Budrigannews.com – To address the U. S. home goods retailer’s falling sales, decreasing cash flow, and mounting debt, Bed Bath & Beyond Inc. said on Thursday that it was looking into a variety of options, including declaring bankruptcy.
The business stated that it is still considering all strategic options, including selling assets, reducing or delaying business activities, restructuring or refinancing debt, and restructuring or refinancing debt.
In premarket trading, the company’s shares fell 13% to $2.10, as Bed Bath & Beyond (NASDAQ:) also anticipates a $385.5 million loss for the third quarter.
More China holds its position on COVID despite WHO
