Cash-starved Bed, Bath & Beyond, which is scrambling to avoid bankruptcy, announced a $120 million lifeline to help it stock near-empty shelves.
One reason that the chain’s sales have fallen and losses have mounted is that the company doesn’t have the funds needed to buy inventory in order to stock shelves. “Although we moved quickly and effectively to change the assortment and other merchandising and marketing strategies, inventory was constrained and we did not achieve our goals,” CEO Sue Gove said in a statement in January.
That is one of the reasons it’s difficult for a retailer to pull out of a downward spiral, as they compete with rivals that are not having to pay cash up front. “The support we are seeing from our top supplier partners demonstrates the staying power of our brands and our potential for sustainable improvement,” Gove said in her statement. “We know the performance and value of our business today is not representative of our full potential.
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