Bed, Bath & Beyond stocks continue plunge amid bankruptcy fears

Fears of bankruptcy and insolvency sent Bed, Bath & Beyond stocks plunging this week, continuing a long slide in stock for the home goods company as it continues to struggle to stay afloat. 

The company in 2022 saw considerable turmoil as it closed over 100 stores and made major layoffs at corporate, even as it arranged hundreds of millions of dollars in financing as it scrambled to keep its doors open. 

In a statement on Thursday, Bed, Bath & Beyond said it recorded net sales in Q3 of FY2022 roughly $600 million lower than the same quarter last year, with a net loss more than $100 million more relative to the year before. 

Company CEO Sue Grove said the corporation's performance "was negatively impacted by inventory constraints as we partnered with our suppliers to navigate both micro- and macro- economic challenges."

Stocks for the company continued to decline, meanwhile. From a peak of around $80 per share in 2014, shares on Thursday had slipped below $2, the lowest they've been since the early 1990s.