Bed Bath & Beyond’s latest effort to turnaround its ailing business does not include its Canadian operations.
Bed Bath & Beyond Canada is “insolvent” and its corporate parent (Bed Bath & Beyond Group) has “reluctantly concluded” that, even with its recent equity offering, it does not have enough capital available to both restructure its U.S. business and also bring the Canadian business back to profitability, according to filings with an Ontario court.
The filings were reposted on the website of consultancy Alvarex and Marsal, which has been appointed as a monitor of the business in the Canadian court case.
Source: Chain Storeage
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 