Bed Bath & Beyond to close 150 stores

The struggling company also plans to reduce 20% of its corporate and supply chain workforce as part of the dramatic restructuring plan.

NEW YORK — Shares of Bed Bath & Beyond lost nearly a quarter of their value Wednesday after the struggling home goods retailer announced a restructuring that includes store closures, layoffs and a possible stock offering.

The company said it has obtained more than $500 million of new financing and was reducing 20% of its workforce, including both corporate and supply chain employees. It said it has begun closing 150 of its namesake stores but will keep its buybuy Baby chain. A news release

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