Bed Bath & Beyond Set To File For Bankruptcy After Announcing Struggles

  • The time span included the lead-up to Black Friday, The New York Times reported, which is a bad sign for a company that relies on the holidays.
  • The company also said it is set to have a net loss of around $385.8 million for the third quarter of this fiscal year, “including impairment charges of approximately $100.0 million.” The net loss is an increase from $276.4 million in the same time span last year.
  • The Wall Street Journal reported that sources said the company is already in the early phase of getting ready to file for a chapter 11 bankruptcy, and talks could go into February.
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