household goods

Bed Bath & Beyond Inc. missed interest payments on its bonds, a week after its bank lenders sent the company a default notice because it was overdrawn on its credit lines. The home-goods retailer failed to pay more than $28 million on three tranches of notes totaling roughly $1.2 billion due on Feb. 1, a spokeswoman for the company confirmed Wednesday. Bed Bath & Beyond Inc. missed interest payments on its bonds, a week after its bank lenders sent the company a default notice…

But landlords who own big-box space occupied by the troubled home-goods retailer are more confident about finding new tenants than they would have been in years past, according to property owners and retail analysts. One of the bigger Bed Bath & Beyond landlords has received commitments from tenants to fill all 12 locations if and when they close, according to a person familiar with the matter, including Sephora, Trader Joe’s, Dick’s Sporting Goods Inc., T.J. Maxx,…

Bed Bath & Beyond Inc. said Friday it was closing an additional 87 of its flagship stores and its entire Harmon chain of drugstores, as the retailer struggles to find financial support to keep its operations funded. The latest closings are in addition to a plan announced in August to shut 150 lower-performing Bed Bath & Beyond locations, a spokeswoman said. The company said Friday it is also closing five of its Buybuy Baby stores. The company had about 50 Harmon stores as of February 2022.…

PALM BEACH, Fla.—The founders of Bed Bath & Beyond Inc. BBBY -22.22% were at the Four Seasons Resort here this month, chatting about how they turned two small stores into a retail force and pop-culture phenomenon.  Money was tight and what little of it they had went to merchandise, not to advertising or trying to make stores look pretty. To hide the industrial fixtures, they piled towels, linens and bedding to the ceiling, giving rise to the clutter that became a…

Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines. The home-goods chain said Thursday it received a notice of default from JPMorgan Chase & Co. on Wednesday. The banks are calling for an immediate repayment of all outstanding loans under the credit agreement. Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted…

Google’s parent company said it would cut its staff by 6% in its largest-ever round of layoffs, extending a retrenchment among technology companies after record pandemic hiring. Alphabet Inc. GOOG 5.27% said the cuts would eliminate roughly 12,000 jobs across different units and regions, though some areas, including recruiting and projects outside of the company’s core businesses, would be more heavily affected. The layoffs reached as high as the vice president level and…

After pushing prices to new heights last year, some companies are starting to pull back. It could be another sign that inflation is starting to turn a corner. Conagra Brands Inc., which makes Hunt’s ketchup and Slim Jim meat sticks, raised prices 17% in its latest quarter, on top of two previous quarters, when it increased prices more than 10%. The company said it is done boosting prices for now. Conagra’s sales volumes fell 8.4% for the quarter ended Nov. 27, which the company…

The unraveling of Bed Bath & Beyond Inc. BBBY -24.62% could unlock one of the company’s strongest businesses: the Buybuy Baby chain of stores selling strollers, cribs and other infant gear. Bed Bath, which is preparing for a bankruptcy filing, has been in discussions with private-equity firm Sycamore Partners and another suitor about a deal to sell the baby chain as part of its chapter 11 restructuring, according to people familiar…

When Teresa Kurtz ‘s 78-year-old mother accidentally locked herself out of her home last week in Cedar Rapids, Iowa, she pulled out her Jitterbug flip phone to seek help, only to discover no calls would go through. “This was one little instance where it’s like, oh my gosh, this is her lifeline,” said Ms. Kurtz, 60, about her mother, who lives alone and faced chilly temperatures before receiving help from a neighbor. Ms. Kurtz’s mother is among users of the Best Buy Co.…

The retailer’s operations burned through about $300 million in cash in the quarter ended Nov. 26 and closed the period with about $200 million in cash and equivalents. It had secured $500 million in financing in August. The company said Tuesday it had about $500 million in total liquidity, including what it can still borrow against its credit lines. The company said last week that it was running low on funds and considering several options, including seeking relief in bankruptcy court. The retailer is in the…