Sat, Jul 9th, 2022 - 8:00am
August 31, 2022 - 8:15am | By Kyle Cornell
(Union, NJ) -- Bed Bath & Beyond says it's closing about 150 stores and laying off 20-percent of its workforce.
The struggling retailer said Wednesday that it has secured 500-million dollars in new financing as it seeks to boost its cash reserves ahead of the holiday shopping season.
The Wall Street Journal says comparable sales at Bed Bath & Beyond tumbled 27 percent in the quarter that ended on August 27th.
No details have been released yet about the layoffs and the store closures.
