Struggling retailer Bed Bath & Beyond warned that it has insufficient funds to pay off its debt and has defaulted on its credit line with lender JPMorgan, sparking fears of a possible near-future bankruptcy.
In a filing (pdf) with the U.S. Securities and Exchange Commission (SEC) on Jan. 26, the retailer, headed by Sue Gove, said that it had received a notice of acceleration and default interest from JPMorgan Chase under its credit agreement with the financial institution.
