Will Bed Bath & Beyond Retail Stores Be Around In The Near Future
The Company That’s Determined Not To Go Belly Up!!!
Bed Bath & Beyond Inc., founded in 1971. Founders, Warren Eisenberg And Leonard Feinstein. Bed Bath & Beyond, is an American domestic merchants chain of retail stores. It is a Fortune 500 and a Forbes global 2000 company. Bed Bath & Beyond, is a place where you can find some of the latest and top household brands that so many used today. Bed Bath & Beyond also has a variety of stores in Canada, Mexico, and Puerto Rico. With approximately 953 stores, they generate in revenue around 7.87 billion US dollars. A well-known company that generates billions of dollars in revenue, and have a variety of stores in the United States and other countries, is deciding to close 150 stores.
Let’s break it down. See, according to reports, Bed Bath & Beyond has not been doing too good financially. In fact, it has also been reported that they are seriously staring bankruptcy in the face. With around 3.277 billion in total debt last quarter. It has gotten so bad for Bed Bath & Beyond, they have tragically lost their CFO. Gustavo Arnal, died by suicide earlier this month. It was reported that he had fallen from a building. The New York City medical examiner’s office said Sunday night the executive died from multiple blunt trauma and that he had taken his own life. Arnal left no note behind and did not say anything to his wife, who was home at the time.
The entire Bed Bath & Beyond Inc., organization is profoundly saddened by this shocking loss. With all that has gone on within the company, can Bed Bath & Beyond recover and get back on track. Well we can definitely say that, The retailer also, operates other retail chains, too. It has 135 Buybuy Baby stores and 51 locations under the Harmon, Harmon Face Values or Face Values banners, as of the end of the fiscal first quarter. It is adding to its baby goods banner, however. It opened five Buybuy Baby stores in that three month period ended May 28. Also they have secured 500 million in a loan ahead of the holiday season. So you could definitely say that Bed Bath & Beyond, is not done yet, and all the executives are working really hard and doing all that they can to keep this company around for a very long time. But the million dollar question is will it be enough.
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