(Bloomberg) — Bed Bath & Beyond Inc. is talking with potential lenders that may finance the corporate throughout chapter proceedings, in keeping with individuals with information of the matter.
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The talks embody the potential for a so-called stalking horse bid, by which the celebration would additionally provide to purchase some or the entire firm’s property in chapter and set the low-end of the bidding bar in order that others can’t provide much less, mentioned the individuals, who requested to not be recognized discussing personal negotiations. Talks are within the early phases and phrases may change, the individuals mentioned.
A spokeswoman for Bed Bath & Beyond reiterated a earlier assertion that the corporate is exploring “multiple paths” to enhance the corporate’s outlook and is “determining our next steps thoroughly, and in a timely manner.”
Union, New Jersey-based Bed Bath & Beyond has seen losses widen because it tries to pursue a turnaround of its enterprise. In an earnings launch Jan. 9, it mentioned its internet loss…
2023-01-12 16:58:24 Bed Bath & Beyond Begins Talks on Bankruptcy Loan, Takeover
Link from finance.yahoo.com