BBBY's mighty declines ahead of Wall Street's opening

The mood around Bed Bath & Beyond (BBBY.US) deteriorated ahead of the opening of today's session following a series of news related to a strategic update. Here are the company's key developments:

• The company confirmed obtaining $500 million in new financing to improve its liquidity position

• The company announces layoffs (20% of the workforce) and store closures (150) to reduce costs

• Company announces sale of up to 12 million shares of common stock (ATM). 

• The company is reducing its capital spending plan from $400 million to $250 million and exiting ⅓ of its brands (Haven, Wild Sage and Studio 3B).

• The company's shares are currently losing more than 24%. Source: BloombergŹródło: Bloomberg