Bed Bath & Beyond looks for buyers, lenders before potential bankruptcy – CNBC

(Reuters) -Bed Bath & Beyond Inc has been in talks with prospective buyers and lenders as the struggling retailer tries to keep its business afloat ahead of a likely bankruptcy filing, CNBC reported on Wednesday.

The company is in the midst of a sale process to find a buyer that would keep business running at both its eponymous store banner and its buybuy Baby chain, the report added, citing people familiar with the matter.

The home goods retailer’s advisors are also looking for a loan of at least $100 million ahead of a potential bankruptcy filing which could occur in the coming weeks, the report said.

Bed Bath & Beyond said in an emailed statement to Reuters that it does not “comment on speculation or specific relationships”.

The New York Times reported last week that the Union, New Jersey-based company was in talks with private equity firm Sycamore Partners for the sale of its assets, including its buybuy Baby stores, as part of a possible bankruptcy process.

While Sycamore is especially interested in the buybuy Baby chain – which helped Bed Bath & Beyond get a loan worth $375 million last year – sale of the company as a whole is also being considered, although with a much smaller footprint of stores than it currently has, the CNBC report said on Wednesday.

Authentic Brands, owner of fashion labels including Forever 21 and Aeropostale, has also been looking at Bed Bath & Beyond, the report said. Authentic Brands did not immediately respond to a Reuters request for comment.

(Reporting by Deborah Sophia in Bengaluru; Editing by Devika Syamnath)

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