Bed Bath & Beyond Raises $250 Million with Sale-Leaseback Deal
Less than a month after new CEO Mark Tritton cleared out Bed Bath & Beyond’s executive suite, the company is making headlines again for a sale-leaseback deal that will bring in $250 million. By selling real estate and then renting it, Bed Bath & Beyond is raising money to fund its turnaround. It’s a strategy other beleaguered retailers have employed in the past.
Tritton has only been in the CEO role, after leaving Target, for a few weeks. But he has shown he is wasting no time in embarking on his own turnaround strategy.