Bed Bath & Beyond Inc. finally filed for chapter 11 Sunday after spending months teetering on the edge of bankruptcy.
The company and “certain of its subsidiaries” are now operating their business and managing their properties as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court, according to the SEC filing. Debtor-in-possession, or DIP, financing lets companies keep operating in chapter 11 bankruptcy.
This article was originally published by Marketwatch.com. Read the original article here.