- The retailer said it received a notice of acceleration and default interest from JPMorgan as a result of events of default occurring on or around Jan. 13, 2023. Those events are said to be continuing.
- The notice said Bed Bath & Beyond failed to prepay an overadvance and satisfy a financial covenant, or condition of its loan agreement.
- As a result, all outstanding loans under the company’s credit facilities are due and payable immediately, along with accrued interest and associated premiums and fees.
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