Bed Bath & Beyond Says It Missed Interest Payments on Bonds [BNN Bloomberg (Canada)]
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: BNN Bloomberg
The retailer failed to make Feb. 1 payments on notes that total more than $1 billion, a spokeswoman said Tuesday in an emailed statement. The default means Bed Bath & Beyond has entered a 30-day grace period, during which time it can still make the interest payments. The Wall Street Journal reported earlier on the missed payments. The skipped payments are the latest sign of the retailer's worsening financial situation. Bed Bath & Beyond is weighing various financial options, including the possibility of a Chapter 11 bankruptcy filing. The company received a default notice from JPMorgan Chase & Co. last week, and warned it didn't have enough funds to make payments. In recent days, the retailer's efforts to find a buyer in bankruptcy have stalled, Bloomberg News has reported, citing people with knowledge of the matter. That potentially puts the home-goods chain on a path toward liquidation. The chain's decline has been years in the making. It accelerated in recent months as sup
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