Renowned US retailer Bed Bath & Beyond has tapped the law firm Kirkland and Ellis to help the former with its debt.
The restructuring process, reportedly, could include new loans, refinancing new loans or both.
The American home furnishing retailer, which has around US $ 1.4 billion in long-term debt, has been working with lenders and financial advisers to address its balance sheet.
The reported hiring of Kirkland and Ellis is yet another indication of the troubles the retailer is going through.
Kirkland and Ellis, which is one of the most active in restructuring situations in the retail sector, is often brought in by firms struggling with financial travails. JCPenney and Neiman Marcus were some recent retailers to have hired the law firm’s services.
Notably, the retailer’s latest reported quarter saw a 25 per cent fall in sales.
Bed Bath & Beyond was founded in 1971 and operates many stores in the US, Canada, Mexico and Puerto Rico.
