Cash-starved Bed, Bath & Beyond, which is scrambling to avoid bankruptcy, announced a $120 million lifeline to help it stock near-empty shelves.
One reason that the chain's sales have fallen and losses have mounted is that the company doesn't have the funds needed to buy inventory in order to stock shelves.
People are also reading… The money comes from ReStore Capital, which will purchase up to $120 million of merchandise from Bed, Bath & Beyond's suppliers in order to supplement stock at Bed Bath & Beyond and buybuy BABY. "The support we are seeing from our top supplier partners demonstrates the staying power of our brands and our potential for sustainable improvement," Gove said in her statement."We know the performance and value of our business today is not representative of our full potential."
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