Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines.
The home-goods chain said Thursday it received a notice of default from JPMorgan Chase & Co. on Wednesday. The banks are calling for an immediate repayment of all outstanding loans under the credit agreement.
Source: https://www.wsj.com/articles/bed-bath-beyond-says-banks-have-cut-off-its-credit-lines-11674764850?siteid=yhoof2&yptr=yahoo