Home good retailer Bed Bath & Beyond took another step towards bankruptcy this week when it revealed that it had defaulted on its credit line and was considering “all strategic alternatives” in its tumultuous financial management.
The company said in an FEC filing that earlier this month “certain events of default were triggered under the Company’s Credit Facilities” following the corporation’s “failure to prepay an overadvance and satisfy a financial covenant, among other things.”
“At this time, the Company does not have sufficient resources to repay the amounts under the Credit Facilities and this will lead the Company to consider all […]
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