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Bed Bath and Beyond to close 150 stores

Published

4 years ago

on

U.S. chain, Bed Bath and Beyond is closing 150 stores amid new financing deals worth more than 500 million dollars

The company is looking to cut jobs and overhaul its entire merchandising function because of the tough economic conditions.

Investors are voicing their concerns over the plan, with shares plummeting nearly 27 per cent at the news.

It follows the worst of the pandemic, supply chain crunch and consumers holding their money as inflation soars right around the world.

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Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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