Bed Bath & Beyond said it plans to . Close another 150 stores as it continues to restructure its finances.
The planned closings. Announced in a regulatory filing Monday, come as the company also said . It has reached an agreement to raise $1 billion in funds to stave off the bankruptcy filing for the time being. The fundraising deal was first reported by The Wall Street Journal.
The latest round of store closings . Is happening nationwide, including Norwalk, Conn., Fairlawn. Ohio, Kansas City, Mo., Santa Ana, Calif., and Fort Wayne, Ind., among others.
Shares of Bed Bath & Beyond plunged more than 12% in early morning trading on Wednesday.
The company said the new closings build on before announced closings of about 200. Bed Bath & Beyond stores, including some BuyByBaby locations, as well as . Closing 50 standalone Harmon stores in the United States.
Bed Bath & Beyond says it plans to drop the Harmon brand .
In total, Bed Bath & Beyond has closed 400 . Stores over the past year — half of its total brick-and-mortar footprint.
Bed Bath & Beyond said it plans to . Close another 150 stores as it continues to restructure its finances.
The planned closings. Announced in a regulatory filing Monday, come as the company also said . It has reached an agreement to raise $1 billion in funds to stave off the bankruptcy filing for the time being. The fundraising deal was first reported by The Wall Street Journal.
