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.
