Bed Bath and Beyond will shutter its Canada stores as financial chaos continues

Embattled home goods store Bed Bath and Beyond this week revealed it will close down its Canadian operations in a bid to stay above water as it struggles to avoid a bankruptcy filing.

Court filings this week claimed that the company’s Canadian division “does not have capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations.”

The company had deliberated “all strategic alternatives” before opting to close down its northern locations. 

The company has been closing hundreds of stores in the United States in recent months as it scrambles to stay above water and secure enough capital to keep its own lights on. 

A last-minute $1 billion capital infusion this week could indicate a possible lifeline for the corporation, though a key analyst claimed that the deal was “one of the most unusual financial situations” of the past few decades.