Bath

Bed Bath & Beyond Inc. is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with the matter. The embattled retailer recently said it needed to raise $300 million from share sales by April 26 to stay out of chapter 11. The company will have to stop selling stock by that date, when it would lose eligibility to continue under its share registration documents. Given the…

A customer leaves a Bed, Bath and Beyond store on August 31, 2022 in Oakland, California.Justin Sullivan | Getty ImagesBed Bath & Beyond wants shareholders to approve a reverse stock split at an upcoming special meeting, as the retailer keeps working to avoid filing for bankruptcy, according to a securities filing late Wednesday. The retailer's board is calling on shareholders to approve the reverse stock split at the May 9 meeting so it can have enough shares available to raise up to $300 million in equity from a…

Customers carry bags from Bed Bath & Beyond store on April 10, 2013 in Los Angeles, California.Kevork Djansezian | Getty Images News | Getty ImagesBed Bath & Beyond announced Wednesday it is working with Hilco Global to get merchandise back on its shelves in the company's latest effort to stay alive and avoid bankruptcy. The home goods retailer has entered into a vendor consignment program with ReStore Capital, an investment manager under Hilco that provides "creative financing solutions" to struggling companies. …

Bed Bath & Beyond Inc. said it will try to sell up to $300 million of common stock in the open market while terminating a fundraising deal with hedge fund Hudson Bay Capital Management LP in the latest effort by the troubled home-goods retailer to stave off bankruptcy.  The Union, N.J.-based company broke off its equity-raising deal with Hudson Bay after reporting another sharp drop in sales in the most recent quarter. Bed Bath & Beyond also said that if its public offering fails to come…

An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey. Kena Betancur | Corbis News | Getty ImagesBed Bath & Beyond is warning of a bankruptcy filing — again — if a proposed $300 million stock offering doesn't pay off.The beleaguered retailer said if it doesn't receive proceeds from the stock offering, announced Thursday, it will likely need to file for bankruptcy protection.In addition, the company disclosed that the loans it secured last year were downsized. According to a…

Bed Bath & Beyond Inc. said on Tuesday it has reached a new agreement with investors that will allow the distressed retailer to get another $100 million in funding, even though its share price has sunk.  The agreement with hedge fund Hudson Bay Capital Management LP reduces the share-price threshold the retailer needs to maintain as part of an equity offering deal to $1 from $1.25 until April 3, the company said. The... Bed Bath & Beyond Inc. said on Tuesday it has reached a new…

Home goods retailer Bed Bath & Beyond Inc. said it raised an additional $135 million from a public equity offering announced in February. The latest capital raise is part of the equity offering the Union, N.J.-based company unveiled last month, which helped pull it back from the brink of bankruptcy. As of Tuesday, the retailer had raised a total of $360 million from the equity offering, including the initial $225 million it received in February, the company said. The... Home goods retailer…

Bath & Body Works Inc. BBWI -0.40% backed the makeup of its refreshed board and rejected naming one of Dan Loeb’s protégés as a director ahead of a potential proxy fight with the hedge-fund manager’s Third Point LLC. The retailer on Monday said in a letter to shareholders that the looming proxy battle is based on misguided motivations and would be detrimental to shareholders. It added that it has taken “all reasonable steps to…

Bath & Body Works Inc. BBWI 3.99% expects earnings to fall this year as weak sales trends linger, and plans to cut expenses further as it faces a proxy battle from Dan Loeb’s Third Point LLC. The Columbus, Ohio-based retailer on Thursday said it expects sales to fall by as much as a mid-single-digit rate this year, as sales trends in the fourth quarter—where revenue fell 5%—persist through the first…

Dan Loeb’s Third Point LLC plans to launch a proxy fight against Bath & Body Works Inc. BBWI 2.77% to address what the activist investor says is excessive executive pay and lagging financial performance at the soap and fragrance maker.Third Point, which first disclosed a stake of more than 6% in Bath & Body Works in December, plans to nominate candidates to the company’s board including at least one shareholder representative. The…