Bed Bath & Beyond to wind down Canada operations

LTC Eugene Chu
..."Feb 10 (Reuters) - Bed Bath & Beyond's Canadian operations are going out of business, according to a court filing on Friday, two days after the retailer quickly raised cash to stave off a U.S. bankruptcy.

The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy Alvarez & Marsal showed.

The Canadian business does not have the "capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without access to cash and the support" from the parent company and its lenders, according to the filing."...