Union, N.J. – Early this morning, Bed Bath & Beyond made the transfer that had lengthy been anticipated.
The corporate filed for Chapter 11 chapter and introduced it would shut all of its remaining shops. It’ll additionally try and promote its belongings, the corporate mentioned in its submitting within the U.S. United States Chapter Court docket for the District of New Jersey.
There are presently 360 Mattress Bathtub & Past and 120 buybuy Child shops in operation. Within the occasion that the corporate finds a white knight to purchase the operations, it would “pivot away from any retailer closings wanted to implement a transaction,” it mentioned.
Mattress Bathtub & Past has obtained roughly $240 million in debtor-in-possession financing (DIP) from Sixth Avenue Specialty Lending to help to wind down of the corporate.
The variety of collectors owed cash ranges between 20,001 and 50,000, per the Ch. 11 submitting. The corporate reported belongings of $1 billion to $10 billion in addition to liabilities of $1 billion to $10 billion.
Its high 30 unsecured collectors embody:
BNY Mellon – $1.2 billion
Personalization Mall – $11 million
Intersoft Information Labs – $6.8 million
Federal Well being Signal Firm – $6.8 million
KDM Pop Resolution Group – $6.6 million
Fee Junction Inc – $6.2 million
IDX – $4.9 million
Nationwide Tree Firm – $4.5 million
North American Company – $4.4 million
Keeco LLC – $4.2 million
FedEx – $3.9 million
Tempur-Pedic – $3.7 million
Fb – $3.4 million
Artsana USA – $3.3 million
Lifetime Manufacturers – $3.3 million
Kepler Group – $3.3 million
William Carter Firm – $3.1 million
Testright Merchandise – $3.1 million
Verizon Enterprise Community – $3.0 million
Pinterest – $2.8 million
BridgeTree – $2.7 million
Citrus Ad Worldwide – $2.6 million
Keurig Inexperienced Mountain – $2.6 million
The Knot – $2.6 million
SharkNinja Gross sales Co. – $2.6 million
Lenox – $2.6 million
Blue Yonder – $2.5 million
F 3 Metalworx – $2.5 million
Madix Inc – $2.5 million
Granite Telecommunications – $2.4 million
Extra data is out there at https://restructuring.ra.kroll.com/bbby.
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