Bed Bath & Beyond seeks to sell shares to avoid bankruptcy.
Bed Bath & Beyond hopes to raise $1 billion from the offering to pay down debt and make missing interest payments.
After closing 150 outlets last year, the home products retailer will close 87 more in coming weeks due to a sales slowdown.
Retail experts said the once-popular retailer doomed itself years ago as a result of bad business decisions, including buying back too much of its own stock, being slow to transition to e-commerce and introducing private label products that few customers wanted.Â
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