Bed Bath & Beyond considers asset sales, Sixth Street bankruptcy loan – Bloomberg News

According to Bloomberg News, Bed Bath & Beyond Inc. (BBBY.O) may sell assets and intellectual property to file for bankruptcy this weekend.

According to Bloomberg News, the home goods store is also seeking cash from U.S. investment firm Sixth Street Partners to sustain its operations during Chapter 11 proceedings.

Sixth Street Partners declined to comment and Bed Bath & Beyond did not.

Reuters reported in January that the struggling store was discussing a financing with Sixth Street to put it through bankruptcy. The investment firm lent Bed Bath & Beyond $375 million in 2022.

After announcing more than $500 million in additional funding, employment layoffs, and 150 store closures, Bed Bath & Beyond questioned its viability in January.