Bed Bath & Beyond says it's closing about 150 stores and laying off 20-percent of its workforce.
The struggling retailer said today that it has secured 500-million dollars in new financing as it seeks to boost its cash reserves ahead of the holiday shopping season.
The Wall Street Journal says comparable sales at Bed Bath & Beyond tumbled 27 percent in the quarter that ended on August 27th.
No details have been released on whether any stores in Rhode Island, Massachusetts or Connecticut are affected.
(Photo Credit: John Baibak, Newsradio RI)