Bed Bath & Beyond has said that it's in default on its loans and doesn't have sufficient funds to repay what it owes.
The home goods chain said in a regulatory filing on Thursday that the default on the loans from JPMorgan Chase would force it to consider alternatives, including restructuring its debt in bankruptcy court.
Shares in the company based in Union, , went into freefall, dropping 22% by the closing bell and triggering three temporary trading halts on the Nasdaq Exchange.
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