However, the plans ultimately proved futile. Under the agreement, Hilco subsidiary ReStore Capital agreed to buy up to $120 million in merchandise from the company's key suppliers after relationships with Bed Bath's vendors soured because of its liquidity issues. Holly Etlin, a longtime retail turnaround expert and a partner and managing director with advisory group AlixPartners, has been appointed as Bed Bath's chief financial officer and chief restructuring officer, filings say.ĭays after the second stock offering was announced, Bed Bath said it had partnered with liquidator Hilco Global to boost its inventory levels. Bed Bath said it plans to continue to pay employees wages and benefits, maintain customer programs and honor obligations to vendors. Sixth Street has agreed to lend Bed Bath $240 million in debtor-in-possession financing so the company can have the cash flow necessary to support operations through the bankruptcy process. Our teams have worked with incredible purpose to support and strengthen our beloved banners, Bed Bath & Beyond and buybuy BABY," CEO Sue Gove said in a statement. ![]() "Millions of customers have trusted us through the most important milestones in their lives – from going to college to getting married, settling into a new home to having a baby. It has between 25,001 and 50,000 total creditors and employs about 14,000 non-seasonal workers, court filings say. Alongside a long list of creditors, including vendors like Pinterest, Keurig and Blue Yonder, it owes the most to BNY Mellon at $1.18 billion, the documents show. It has already committed to closing all of its Harmon FaceValue stores.Īs of late November, Bed Bath had about $4.4 billion in assets and $5.2 billion in debts, court filings show. But it has filed motions in New Jersey bankruptcy court asking permission to auction the two brands, the company said in a release. ![]() The company's 360 namesake stores and 120 Buybuy Baby locations will remain open for the time being as it begins to close the business and liquidate assets. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit
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