Bed Bath & Beyond considers asset sales, Sixth Street bankruptcy loan - Bloomberg News
Reuters
Published Apr 21, 2023 10:51PM ET
(Reuters) - Bed Bath & Beyond Inc (NASDAQ:BBBY) is considering sales of assets and intellectual property as part of a potential bankruptcy filing that could come as soon as this weekend, Bloomberg News reported, citing people with knowledge of the situation.
The home goods retailer is also looking to secure funding from U.S.-based investment firm Sixth Street Partners to support its operations through Chapter 11 proceedings but the plans could still change, Bloomberg News reported on Friday.
Bed Bath and Beyond did not respond to a request for comment, while Sixth Street Partners declined to comment.
In January, Reuters reported that the embattled retailer was negotiating a loan to help it navigate bankruptcy proceedings, with Sixth Street in talks to provide some funding. The investment firm loaned Bed Bath & Beyond $375 million in 2022.
Bed Bath & Beyond raised doubts in January about its ability to continue as a going concern, just months after it announced more than $500 million in new financing, job cuts and 150 store closures.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.