It was then sent crashing after Ryan Cohen, the chairman of other meme favourite GameStop, announced he was selling off his 10% stake in the company just months after building up his holding. The firm’s shares surged early last week on a fresh round of interest from so-called ‘meme investors’ based on the /r/WallStreetBets subreddit. Bed Bath and Beyond® is committed to being the destination for home goods, offering a wide array of top-quality items in bedding, bath, home décor, furniture, beauty & fitness, luggage, and more. The company had been struggling to recover from a mis-fire on a 2019 pivot to own-brand products, which ended up alienating customers and sending sales tumbling right before the Covid-19 pandemic decimated bricks-and-mortar retailers.īoth Bed Bath & Beyond and JPMorgan offered no comment on the reports, with the WSJ adding that the terms and size of the deal were not made immediately clear. It said the chain was seeking around $375m to help pay down debt and pad out its cash on hand, and to reassure suppliers that it could keep up with its invoices. In 1986 we added Beyond to our name and introduced the superstore. The Wall Street Journal cited “people familiar with the matter” as saying the company had told prospective lenders that it had chosen a lender after a process led by JPMorgan Chase. Bed Bath & Beyond was founded in 1971- back then we were known simply as Bed n Bath. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.
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