Bed Bath & Beyond Shares Tumble as Company Says ‘Substantial Doubt’ It Can Continue

Started by Epoch-Times-Bot, Jan 06, 2023, 04:45 AM

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Epoch-Times-Bot

Jan 06, 2023, 04:45 AM
Bed Bath & Beyond Shares Tumble as Company Says 'Substantial Doubt' It Can Continue

Shares of Bed Bath & Beyond dropped drastically on Jan. 5 after the company warned it is considering bankruptcy amid mounting debt and waning finances, noting that there is “substantial doubt” that the retailer will be able to continue.
The company issued the warning in its estimated financial results for the three months ending Nov. 26, 2022.
“While the Company continues to pursue actions and steps to improve its cash position and mitigate any potential liquidity shortfall, based on recurring losses and negative cash flow from operations for the nine months ended November 26, 2022, as well as current cash and liquidity projections, the Company has concluded that there is substantial doubt about the Company’s ability to continue as a going concern,” the company said....

Source: Bed Bath & Beyond Shares Tumble as Company Says 'Substantial Doubt' It Can Continue

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Aug 30, 2024, 03:32 AM
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