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Bed Bath & Beyond's New Financing Won't Save It

TheMotleyFool

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Bed Bath & Beyond's New Financing Won't Save It: https://g.foolcdn.com/editorial/images/701286/consumer-goods-bed-bath-and-beyond-store-bbby.jpg

Late last month, Bed Bath & Beyond (NASDAQ: BBBY) revealed a new plan to pull itself out of an accelerating downward spiral.

Under interim CEO Sue Gove, the company plans to cut costs to the bone, shift its merchandise mix back toward national brands to win back customers, close another 150 underperforming stores, and postpone virtually all long-term strategic investments. Meanwhile, Bed Bath & Beyond locked up $505 million of new debt financing to shore up its liquidity.

By lining up new financing and slashing spending to reduce cash burn, management hopes to buy time to turn things around. Unfortunately, even these heroic efforts are unlikely to save the iconic home furnishings retailer.

Source Fool.com

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