Headlines

Bed Bath & Beyond Defaults on Credit Line

Retailer’s latest SEC filing repeats that bankruptcy filing possible

Published

1 year ago

January 27, 2023

VMSD Staff

Bed Bath & Beyond Defaults on Credit Line — Bed Bath & Beyond's remodeled New York flagship opened July 22, 2021. Photography: Courtesy of Bed Bath & Beyond

Bed Bath & Beyond’s remodeled New York flagship opened July 22, 2021. Photography: Courtesy of Bed Bath & Beyond

Bed Bath and Beyond (Union, N.J.) has defaulted on its debt and found it can’t repay some of its lenders, according to the embattled retailer’s latest filing with the Securities and Exchange Commission.

“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 U.S. Bankruptcy Code,” the filing said.

The filing is the latest chapter in Bed Bath & Beyond’s ongoing financial tumult. The home goods retailer is also cutting costs, lowering capital expenditures, and closing stores and distribution centers.

Related Topics:bed bath and beyond

VMSD Staff

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