(Reuters) – Bed Bath & Beyond Inc said on Wednesday it has secured more than $500 million in new financing as the cash-strapped home goods retailer battles a slump in demand and profit.
The company said it would shut about 150 underperforming stores and cut about 20% of its workforce across its corporate and supply chain.
(Reporting by Deborah Sophia and Uday Sampath in Bengaluru; Editing by Arun Koyyur)