Bed Bath & Beyond on Wednesday received a notice of default from JPMorgan Chase, which is calling for an immediate repayment of debts under the credit agreement.
The home goods retailer warned it doesn’t have enough cash to pay down its debts, according to a Thursday filing with the Securities and Exchange Commission.
As a result, the company said it needs to consider all strategic alternatives, including bankruptcy. The retailer initially warned of a potential bankruptcy filing earlier this month.
Source: Retail Dive
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