Bed Bath & Beyond's Stock Plummets to Record Low Amid Bankruptcy Concerns

Bed Bath & Beyond's stock closed at an all-time low of 43 cents per share, down 82% year-to-date, as the struggling home goods retailer faces bankruptcy if it fails to raise up to $300 million in an equity offering. The company has been shrinking its footprint of stores, closing down more and more locations, and has struggled to retain talent and keep up with vendor relations due to liquidity issues. Despite attempts to turn itself around, including bringing in former Target executive Mark Tritton, the company's sales have continued to decline, leading to the departure of Tritton and the appointment of retail veteran Sue Gove as CEO.