Business and Finance
Bed Bath & Beyond Files for Chapter 11 Bankruptcy, Secures $240 Million Financing for Wind Down
Bed Bath & Beyond Inc. has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code to wind down its businesses while conducting a limited marketing process to solicit interest in one or more sales of its assets.
The company has secured approximately $240 million in debtor-in-possession financing to support operations during the Chapter 11 process. While the company has commenced liquidation sales, it intends to use Chapter 11 proceedings to conduct a limited sale and marketing process for some or all of its assets.
The company will continue to serve customers through its open stores and websites.
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