Union, N.J. – Bed Bath & Beyond says its latest financial maneuver widens the scope on the amount of cash that could soon be coming its way.
The company announced that it has adjusted the price failure threshold for the offering it announced last month, which it said opens the possibility that it could generate another $100 million in April. That would bring total funding to $460 million thus far.
The funding has “enabled us to begin reinvesting in valuable inventory to fulfill customer demand,” said Sue Gove, president & CEO of Bed Bath & Beyond Inc.
Down on the ground at the New York Home Fashions Market, sister publication Home Textiles Today reports that the prevailing outlook on Bed Bath & Beyond is one of caution. There are vendors still waiting to be paid for orders shipped months ago. HTT has spoken with a few suppliers who are still taking orders from BBB, often on a limited basis and strict terms.
In early February, Bed Bath & Beyond warned that if the stock transactions it expects to haul in $1 billion to not come through it may wind up in bankruptcy.