Bed Bath & Beyond said there is doubt about its ability to keep operations funded as sales continue to fall. Shares dropped more than 18% premarket.
Bed Bath & Beyond Inc.
said Thursday that there is doubt about its ability to keep operations funded, as sales continue to fall amid inventory woes and flagging customer traffic atShares plunged more than 18% premarket after the company said that it is considering several options, including seeking relief in bankruptcy court. It said that sales for its third quarter are expected to fall by nearly a third and that losses are seen widening nearly 40% to $385.8 million.
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Bed Bath & Beyond shares plummet as company warns of deeper financial troubles
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Bed Bath & Beyond exploring options including bankruptcy, shares fall 13%Bed Bath & Beyond Inc on Thursday said it was exploring options including a bankruptcy filing to address the U.S. home goods retailer's plunging sales, dwindling cash and debt load, sending its shares tumbling.
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Bed Bath & Beyond bankruptcy might be next, retailer warnsThe beleaguered retailer faces 'substantial doubt' about its ability to continue operating.
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Bed Bath stock plunges after warning that it may need to declare bankruptcyBed Bath & Beyond Inc. said Thursday that it has 'substantial doubt' about its 'ability to continue as a going concern'
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