Bed Bath & Beyond exploring options including bankruptcy, shares fall 13%

[January 05, 2023]   (Reuters) -Bed Bath & Beyond Inc said on Thursday it was exploring options including a bankruptcy filing to address the U.S. home goods retailer's plunging sales, dwindling cash and debt load. 

A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly

The company said it continues to consider all strategic alternatives, including restructuring or refinancing debt, reducing or delaying business activities and selling assets.

Shares of the company were down 13% at $2.10 in premarket trading as Bed Bath & Beyond also expects to record a quarterly loss of $385.5 million.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta and Subhranshu Sahu)

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