Stock Market
WSJ News Exclusive | Bed Bath & Beyond Strikes Investor Deal for Over $1 Billion to Avoid Bankruptcy
[ad_1]
[ad_2]
Bed Bath & Beyond Inc. has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy and try to turn around its flagging business, people familiar with the matter said.
The offering of convertible stock and warrants, coupled with a $100 million additional credit line from one of its lenders, is expected to save the troubled retailer from the near-term chapter 11 filing it has warned about for weeks. Bed Bath & Beyond has received investor commitments to raise $225 million of equity capital initially and the rest of the more than $1 billion offering over time, according to people familiar with the matter.
Share this news on your Fb,Twitter and Whatsapp
Times News Network:Latest News Headlines
Times News Network||Health||