Bed Bath & Beyond tumbles after co files for bankruptcy protection

Bed Bath & Beyond

24/04/2023 09:50

** Shares of home goods retailer Bed Bath & Beyond Inc
 BBBY.O  down ~38% at 18 cents before the bell
    ** Co on Sunday filed for Chapter 11 bankruptcy protection
and began a liquidation sale  urn:newsml:reuters.com:*:nL2N36Q03I
    ** BBBY intends to use Chapter 11 proceedings to conduct a
limited sale and marketing process for some or all of its assets
    ** The retailer has listed both its estimated assets and
liabilities in the range of $1 billion to $10 billion, according
to a court filing
    ** BBBY says it has received a commitment of approximately
$240 million in debtor-in-possession financing from Sixth Street
Specialty Lending Inc
    ** Up to Friday's close, stock had fallen ~88% YTD

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))