Bed Bath & Beyond taps new restructuring adviser as bankruptcy looms

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Bed Bath & Beyond Inc. has brought on turnaround consultant AlixPartners as its new restructuring adviser as the troubled home goods retailer prepares for a likely bankruptcy, according to sources familiar with the matter.

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Bed Bath & Beyond store in Marlton, N.J., Oct. 29, 2022 (Fox News)

The company has also been working with law firm Kirkland & Ellis LLP and investment banker Lazard Ltd. on restructuring efforts and last week said it is considering all options, including a bankruptcy filing, to battle its declining cash and dropping revenue.

AlixPartners replaced Berkeley Research Group LLC (BRG), a consulting firm Bed Bath & Beyond had been working with since the middle of last year, the sources said.

Bed Bath & Beyond Store Sign (iStock / iStock)

A representative for Bed Bath & Beyond declined to comment on AlixPartners's hire and added that it has a team "internally and externally with proven experience in helping companies successfully navigate complex situations and become stronger."

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Bed Bath & Beyond

TickerSecurityLastChangeChange %
BBBYBED BATH & BEYOND INC.2.07+0.45+27.78%
LAZLAZARD LTD.37.26+0.53+1.44%

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AlixPartners declined to comment. BRG didn't immediately respond to a request seeking comment.

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