Bed Bath & Beyond gets $500 mln in financing, to shut 150 stores

Bed Bath & Beyond Inc (BBBY.O) said on Wednesday it has secured more than $500 million in new financing as the cash-strapped home goods retailer battles a slump in demand and profit.

The company said it would shut about 150 underperforming stores and cut about 20% of its workforce across its corporate and supply chain.