- Home goods retailer Bed Bath & Beyond Inc (NASDAQ:BBBY) plans to provide a business and strategic update about its turnaround plan on August 31, 2022.
- The company has been struggling recently with high debt and falling sales despite attempts to overhaul it.
- Bed Bath & Beyond shares tanked after billionaire investor and GameStop Corp (NYSE:GME) Chairman Ryan Chen exited his position.
- BBBY hired Kirkland & Ellis to help tackle its debt load and potential restructuring.
- According to a report by The Wall Street Journal, the company is close to finalizing a loan to support its liquidity issues.
- “We recognize the strong interest in our company and our plans to better serve customers, recapture market share, drive growth and profitability, ensure our vendors are supported and strengthen our balance sheet,” said interim CEO Sue Gove.
- Price Action: BBBY shares are trading higher by 1.29% at $10.23 in premarket on the last check Friday.
- Photo Via Wikimedia Commons
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