Bed Bath & Beyond revealed its latest plan to improve its ailing business on the heels of successfully completing a last-ditch attempt to avoid bankruptcy.
The embattled home goods retailer on Tuesday said that it completed an equity offering of preferred stocks and warrants that raised about $225 million in cash, with an additional $800 million more to come in future installments. (Bed Bath & Beyond also secured another $100 million loan from Sixth Street Partners, one of its lenders. )
“This transformative transaction will provide runway to execute our turnaround plan,” stated president and CEO Sue Gove.
Source: Chain Store Age
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