Bed Bath & Beyond considers asset sales, Sixth Street bankruptcy loan - Bloomberg News (updated)

Bed Bath & Beyond

22/04/2023 03:45

(Adds response from Sixth Street Partners)
       April 21 (Reuters) - Bed Bath & Beyond Inc  BBBY.O  is
considering sales of assets and intellectual property as part of
a potential bankruptcy filing that could come as soon as this
weekend, Bloomberg News reported, citing people with knowledge
of the situation.
    The home goods retailer is also looking to secure funding
from U.S.-based investment firm Sixth Street Partners to support
its operations through Chapter 11 proceedings but the plans
could still change, Bloomberg News reported on Friday. 
    Bed Bath and Beyond did not respond to a request for
comment, while Sixth Street Partners declined to comment.
    In January, Reuters reported that the embattled retailer was
negotiating a loan to help it navigate bankruptcy proceedings,
with Sixth Street in talks to provide some funding. The
investment firm loaned Bed Bath & Beyond $375 million in 2022.
    Bed Bath & Beyond raised doubts in January about its ability
to continue as a going concern, just months after it announced
more than $500 million in new financing, job cuts and 150 store
closures. 

 (Reporting by Urvi Dugar in Bengaluru; Editing by Kim Coghill
and Himani Sarkar)
 ((UrviManoj.Dugar@thomsonreuters.com;))