Bed Bath & Beyond Files For Bankruptcy Protection
(RTTNews) - Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in New Jersey, but the beleaguered home improvement retailer said its stores and websites will remain open and continue serving customers.
The company noted that it has received a commitment of about $240 million in debtor-in-possession financing from Sixth Street Specialty Lending. Following court approval, the company expects the financing to provide the necessary liquidity to support operations during the Chapter 11 process.
Bed Bath & Beyond said in January that it continued to consider all strategic alternatives including restructuring or refinancing its debt, seeking additional debt or equity capital, reducing or delaying business activities and strategic initiatives, or selling assets, other strategic transactions and/or other measures, including obtaining relief under the U.S. Bankruptcy Code.
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