STORY: Bed Bath & Beyond Inc slid 21% on Friday after Reuters reported that the home goods retailer was preparing to seek bankruptcy protection in coming weeks.
A source told Reuters the company is considering skipping debt payments due Feb. 1, a typical move distressed companies on the verge of bankruptcy take to conserve cash.
"In a higher interest rate environment, leverage is going to be risky and is going to put pressure on a number of companies' cash flows," said Sharma.
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| 13.47 USD | -3.51% | +5.81% | 616M | ||
