: Bed Bath & Beyond to close its stores in Canada


Ailing home-goods retailer Bed Bath & Beyond Inc. BBBY, -9.62% will shut down its several-dozen stores in Canada, after concluding that it doesn’t have the resources to shore up both its business there and in the U.S., the Wall Street Journal reported on Friday. The chain had sought protection for the stores in Canada under the Canadian equivalent of chapter 11 bankruptcy, the Journal said. The retailer runs 54 Bed Bath & Beyond stores and 11 Buybuy Baby locations in the nation, the Journal said, citing court documents. Bed Bath & Beyond has been trying to stave off a possible bankruptcy, and this week announced what some analysts called an unusual equity offering in an effort to save itself. Shares were unchanged after hours on Friday.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Snapshot: Stocks end mostly higher, but S&P 500, Nasdaq book worst weekly losses since December
Next articleFBI finds another classified document in search of Mike Pence’s home


Please enter your comment!
Please enter your name here