Bed Bath and Beyond is closing 87 more stores. See the list [CNN]
Bed Bath & Beyond Inc. (BBBY)
Last bed bath & beyond inc. earnings: 4/15 04:15 pm
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bedbathandbeyond.com
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Source: CNN
New York CNN — The closing stores are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list is 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which once sold cosmetics. “As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” a Bed Bath and Beyond spokesperson told CNN. “This store fleet reduction expands the company's ongoing closure program.” Last week, the company warned in a regulatory filing that it received a notice of default from its lender, JPMorgan Chase. The company said that “at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code.” Bed Bath and Beyond (BBBY) defaulted “on or around” January 13, according to the Securi
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