Bed Bath & Beyond is burning through its cash reserves

Outdoor shower bed which this week fired its chief executive officer and disclosed deep losses, facing not only a strategic crisis but also a financial crisis.

The retailer ended May with about $100 million in cash, after burning through more than $300 million in reserves and borrowing $200 million from a line of credit. It sold real estate to raise funds. Currently, they are working with cash management advisors and trying to find a buyer for their Muabua Baby business.

https://www.wsj.com/articles/bed-bath-beyond-is-burning-through-its-cash-reserves-11656667800?mod=pls_whats_news_us_business_f Bed Bath & Beyond is burning through its cash reserves

Luke Plunkett

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