intends to use the Chapter 11 proceedings to conduct a limited sale and marketing process for some or all of its assets. While the Company has commenced a liquidation sale, Bed Bath & Beyond Inc. Actions have been underway to improve merchandise assortment, streamline supply chain, and optimize its store footprint. In late 2022, the Company initiated a significant turnaround plan to reset foundational elements of its operational and financial positioning to better serve customers, employees, and supplier partners. ![]() We will continue working diligently to maximize value for the benefit of all stakeholders."įor decades, Bed Bath & Beyond set the standard across the home goods sector and held its position through many different economic cycles and alongside a continuously evolving customer. We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process. Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuy BABY. said, "Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, settling into a new home to having a baby. Sue Gove, President & CEO of Bed Bath & Beyond Inc. ![]() ![]() Through the filing of customary motions with the Court, the Company intends to uphold its commitments to customers, employees, and partners, including continued payment of employee wages and benefits, maintaining customer programs, and honoring obligations to critical vendors. The Company's 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as the Company begins its efforts to effectuate the closure of its retail locations. Following court approval, the Company expects this financing to provide the necessary liquidity to support operations during the Chapter 11 process. To facilitate this process, the Company has received a commitment of approximately $240 million in debtor-in-possession financing ("DIP") from Sixth Street Specialty Lending, Inc.
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