Bed Bath & Beyond Canada secures creditor protection
Court documents posted to Alvarez & Marsal Canada Inc.’s website say Bed Bath & Beyond Canada is insolvent and cannot restructure its operations without support from its American parent company.Integrity commissioner clears Doug Ford after developers attend daughter’s stag and doe
The documents dated Friday say Bed Bath & Beyond Canada has commenced the creditor protection proceedings to allow for a timely wind-down of the business and liquidation of inventory.Story continues below advertisement U.S. parent company Bed Bath & Beyond Inc. has shut scores of its stores across the country and warned last month that it may need to file for bankruptcy protection as it was unable to pay back its loans.
It recently raised about $1 billion through offerings of preferred stock and warrants, which it said will be used to pay off debt.
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