Bed Bath & Beyond Inches Toward Bankruptcy With More Store Closures on the Way
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Bed Bath & Beyond Inches Toward Bankruptcy With More Store Closures on the Way
Bed Bath & Beyond , Inches Toward Bankruptcy , With More Store Closures on the Way.
Bed Bath & Beyond has announced that the company
will be closing an additional 87 locations along
with all Harmon health and beauty stores.
.
Bed Bath & Beyond has announced that the company
will be closing an additional 87 locations along
with all Harmon health and beauty stores.
.
NBC reports that the news comes as the troubled
retailer looks to consolidate assets ahead of
a potential bankruptcy filing in the near future.
As we work with our advisors
to consider multiple paths,
we are implementing actions
to manage our business
as efficiently as possible, Bed Bath & Beyond, via statement.
The company added that
the decision to close more locations was, "based on a variety of factors.".
In the latest announcement,
the company said that it would also
be closing five buybuy BABY stores.
.
NBC reports that Bed Bath & Beyond has
announced 237 store closures in the past year.
On January 31, Reuters reported that
the company could potentially file for
bankruptcy within the next week.
On January 31, Reuters reported that
the company could potentially file for
bankruptcy within the next week.
Last week, Bed Bath & Beyond
said that it had defaulted on
a loan to JP Morgan Chase and Co.
According to a Reuters report,
the company is looking to skip additional
debt payments due February 1.
The outlet reports that missing payments
such as this is typically a sign that a distressed
company is looking to conserve cash.
The turnaround plan put in place
last year is not working... Put bluntly,
the business is moving at rapid speed
in the wrong direction with bankruptcy
the most likely destination, Neil Saunders, GlobalData analyst, via Reuters.
The turnaround plan put in place
last year is not working... Put bluntly,
the business is moving at rapid speed
in the wrong direction with bankruptcy
the most likely destination, Neil Saunders, GlobalData analyst, via Reuters
Walmart Reverses Course, , Closes Down Its , Walmart Health Division.
NBC reports that Walmart has announced
it will close all 52 of the doctor-staffed
health clinics the company operates.
The announcement comes as
part of the company's decision to
shut down its Walmart Health Initiative.
Clinics that will close down are located in
Arkansas, Florida, Georgia, Illinois and Texas. .
On April 30, the company also said it would
begin winding down its virtual care service.
The decision to end the Walmart Health Initiative
will not reportedly impact Walmart
pharmacies and vision centers.
Walmart said that it will work to direct current patients
to other providers covered by their insurance
networks to ensure they continue to receive care.
NBC reports that the news comes as a swift
reversal of Walmart's plan to expand its number
of doctor-staffed clinics to 70 by the end of 2024.
Through our experience managing
Walmart Health centers and
Walmart Health Virtual Care,
we determined there is
not a sustainable business
model for us to continue, Walmart statement, via NBC.
Other nontraditional health care
providers have also been forced to
reconsider their plans in recent years. .
Last month, Walgreens announced that it would
close 140 of the company's primary care clinics,
along with plans to shut down 20 more.
Credit: Wibbitz Top Stories Duration: 01:30Published
Law Enforcement Hiring , Increased in 2023 , Following Years of Decline.
NBC reports that police departments in the United States
have seen their first increase in ranks, changing course
on a historic exodus of officers in recent years.
According to a recent survey,
2023 saw more officers sworn in
than any of the previous four years. .
At the same time, the survey by the Police Executive
Research Forum (PERF) also found that fewer law
enforcement officers resigned or retired in 2023. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
I just think that the past four
years have been particularly
challenging for American policing.
And our survey shows we’re
finally starting to turn a corner, Chuck Wexler, Executive director of PERF, via NBC.
NBC reports that declining numbers left
many police departments with a shortage of
officers, which resulted in slower response times.
Chuck Wexler, executive director of PERF, warns that many police departments are still struggling to recruit and retain officers.
According to Wexler, law enforcement , "isn't out of the woods yet.".
At least a dozen smaller police departments in
the nation have been forced to disband, leaving those
municipalities reliant upon state or county police forces.
NBC reports that in addition to increased pay and
benefits, many police departments have chosen to
change application requirements to increase hiring
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
'Law & Order: Organized Crime' is coming back! But it's moving from NBC to Peacock. Sources tell The Hollywood Reporter that Peacock is putting the finishing touches on a deal that would see the series starring Christopher Meloni move from NBC to the streaming service for a fifth season consisting of 10 episodes. Reps for Peacock, NBC, producers Universal Television and executive producer Dick Wolf declined to comment as a deal has yet to officially close.
Credit: The Hollywood Reporter Duration: 01:17Published
Sabrina Impacciatore of 'The White Lotus' and Domhnall Gleeson from 'Star Wars: The Rise of Skywalker' have been cast in the new take on the beloved NBC Steve Carell-led comedy 'The Office.'
Credit: The Hollywood Reporter Duration: 01:08Published
Fabric and Craft Retailer Joann , Files for Bankruptcy.
The 81-year-old company made the announcement on March 18, CNN reports. .
The retailer has also secured $132 million
in new funding to cut its debt in half.
Joann's 850 stores and website
will remain operational. .
This agreement is a significant
step forward in addressing
Joann’s capital structure needs, , Scott Sekella, Joann's chief financial officer, via statement .
... and it will provide us with the
financial resources and flexibility
necessary to continue to deliver
best-in-class product assortments... , Scott Sekella, Joann's chief financial officer, via statement .
... and enhance the customer
experience wherever they
are shopping with us, Scott Sekella, Joann's chief financial officer, via statement .
The Nasdaq has delisted Joann's stock. .
The company will become privately owned after the bankruptcy process.
The bankruptcy of Joann has been
looming for a long time and was always
a matter of when, rather than if, Neil Saunders, managing director and
retail analyst for GlobalData, via note.
The bankruptcy process will now
allow the arts and crafts chain
to receive an infusion of cash at
the same time as streamlining its
operations and reducing debt levels, Neil Saunders, managing director and
retail analyst for GlobalData, via note
Credit: Wibbitz Top Stories Duration: 01:30Published
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