The Latest Breaking News from Sue Gove

Sue Gove became CEO as the retailer faced demise.

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection Sunday and said it would start to liquidate, adding that it will reverse course if it finds a last-minute buyer.

Bed Bath & Beyond Inc. said it’s close to securing financing and is putting in place a new business strategy to reduce costs as the troubled retailer tries to convince investors, vendors and customers that it has a credible survival plan.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) shares surged Thursday morning after several filings with the U.S. Securities and Exchange Commission (SEC) showed recent insider buying.

Bed Bath & Beyond Inc (NASDAQ:BBBY) reported a first-quarter FY22 sales decline of 25% year-on-year to $1.46 billion, missing the consensus of $1.54 billion. Comparable sales declined 23%. Adjusted gross margin contracted 1,110 basis points to 23.8%. Adjusted EBITDA loss was $(224) million, with the adjusted EBITDA margin at (15.3)% versus 4.4% last…