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Reuters: Bed Bath & Beyond Receives Loan Default Notice from JPMorgan

January 27, 2023, 08:00 AM
Filed Under: Retail

Reuters reported Bed Bath & Beyond said on Thursday it had received a notice of default on its loan from JPMorgan Chase Bank, triggering a 22% slump in its shares.

The company said in a regulatory filing it does not have sufficient resources to repay the amounts under the credit facilities, adding it will consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code, according to the Reuters report.

Read the full Reuters report here.

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