Bed Bath & Beyond said banks have determined it has defaulted on its credit lines and it doesn’t have the funds to repay them, as the retailer prepares for a potential bankruptcy filing
Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines.
The home-goods chain said Thursday it received a notice of default from JPMorgan Chase & Co. on Wednesday. The banks are calling for an immediate repayment of all outstanding loans under the credit agreement.
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