Bed Bath & Beyond Inc. said Tuesday that it's mapping out a 'turnaround plan' to avoid bankruptcy after raising hundreds of millions of dollars.
"The Company will continue to execute its customer-focused turnaround plans by optimizing its store footprint, investing in inventory, and pursuing infrastructure improvements," Bed Bath & Beyond said in a statement.
The company announced Tuesday that it had completed its plan to raise $225 million in a securities sale that could also lead to it receiving another $800 million in proceeds.considering filing for bankruptcy protection"This transformative transaction will provide runway to execute our turnaround plan," CEO Sue Gove said in a statement.
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