Bed Bath & Beyond (BBBY.US) plans to raise US$300 million in equity allotment and announced that it has terminated the February public placing and convertible preference fund raising plan, which originally wanted to raise US$1 billion, but ultimately only US$360 million.
Bed Bath & Beyond warned once again that it is possible to file bankruptcy if the funds were not available, overnight its share price fell 26.23% to $0.59. Bed Bath & Beyond expects same-store sales to drop 40% to 50% in Q4, the decline is much larger than the market expected 26.3%.