Shares of Bed Bath & Beyond Inc plunged about 25% on Monday after the home goods retailer's long fight to save its business ended in bankruptcy.
On Monday, Bed Bath & Beyond was the second-most active stock on Stocktwits, a website popular with individual investors.
Its notes maturing in 2024 remained under pressure, falling around $3 on Monday and pushing the yield to a record high of more than 450%.Bed Bath also named interim finance chief Holly Etlin as its new CFO. A bankruptcy expert, Etlin will also serve as its chief restructuring officer, overseeing the liquidation and sale processes.Thomson Reuters
Bansari reports on the global financial markets and writes Reuters' daily flagship market reports on equities, bonds and currencies. An economist by training and winner of the Arthur MacEwan Award for Excellence in Political Economy, she has written for renowned global papers and magazines including The Diplomat, Boston Globe, Conversation, Huffington Post and more.
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Bed Bath & Beyond's rocky ride to bankruptcy filingBed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat.
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Bed Bath & Beyond files for bankruptcy protection after long struggleBed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat.
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Bed Bath & Beyond files for Chapter 11 bankruptcyBed Bath & Beyond filed on Sunday for Chapter 11 bankruptcy, the retailer said in a press release.
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Bed Bath & Beyond Files for Bankruptcy ProtectionBed Bath & Beyond has filed for bankruptcy after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour.
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