Five more Bed Bath & Beyond Inc. stores in Michigan will close in the coming weeks as the struggling retailer looks to cut costs.The company on Tuesday announced that stores in Ann Arbor, Auburn Hills, Brighton, Lansing and Muskegon will be among those to shut down to help the company cut $80…
Bed Bath & Beyond has been "working expeditiously" over the past several weeks with external financial advisers and lenders to bolster its balance sheet.
The lifeline comes as Bed Bath & Beyond's stock has seen volatile swings fueled by buying from retail traders and the dumping of an 11.8% stake held by investor Ryan Cohen's RC Ventures.
Bed Bath & Beyond shares have jumped more than 268% this month with much of the volatility driven by the retailer’s second largest shareholder, Ryan Cohen’s RC Ventures.