In its latest move to avoid bankruptcy, Bed Bath & Bath Inc. has entered into a deal to help boost its inventory, increasing merchandise availability.
The embattled, cash-starved retailer announced a vendor consignment program with ReStore Capital, a Hilco Global company. Under the terms of the third-party agreement, ReStore Capital will purchase up to $120 million — on a revolving basis at any given time — of pre-arranged merchandise from Bed Bath & Beyond’s key suppliers to enhance inventory levels at its namesake and Buybuy Baby stores.
Bed Bath & Beyond been challenged as its key vendors have imposed tight restrictions, including requiring pre-payments before fulfilling orders.
Source: Chain Storeage
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