Bed Bath & Beyond , Inches Toward Bankruptcy , With More Store Closures on the Way.<br />Bed Bath & Beyond has announced that the company <br />will be closing an additional 87 locations along <br />with all Harmon health and beauty stores. .<br />Bed Bath & Beyond has announced that the company <br />will be closing an additional 87 locations along <br />with all Harmon health and beauty stores. .<br />NBC reports that the news comes as the troubled <br />retailer looks to consolidate assets ahead of <br />a potential bankruptcy filing in the near future.<br />As we work with our advisors <br />to consider multiple paths, <br />we are implementing actions <br />to manage our business <br />as efficiently as possible, Bed Bath & Beyond, via statement.<br />The company added that <br />the decision to close more locations was, "based on a variety of factors.".<br />In the latest announcement, <br />the company said that it would also<br />be closing five buybuy BABY stores. .<br />NBC reports that Bed Bath & Beyond has <br />announced 237 store closures in the past year.<br />On January 31, Reuters reported that <br />the company could potentially file for <br />bankruptcy within the next week.<br />On January 31, Reuters reported that <br />the company could potentially file for <br />bankruptcy within the next week.<br />Last week, Bed Bath & Beyond <br />said that it had defaulted on <br />a loan to JP Morgan Chase and Co.<br />According to a Reuters report, <br />the company is looking to skip additional <br />debt payments due February 1.<br />The outlet reports that missing payments <br />such as this is typically a sign that a distressed <br />company is looking to conserve cash.<br />The turnaround plan put in place <br />last year is not working... Put bluntly, <br />the business is moving at rapid speed <br />in the wrong direction with bankruptcy <br />the most likely destination, Neil Saunders, GlobalData analyst, via Reuters.<br />The turnaround plan put in place <br />last year is not working... Put bluntly, <br />the business is moving at rapid speed <br />in the wrong direction with bankruptcy <br />the most likely destination, Neil Saunders, GlobalData analyst, via Reuters
