FLORENCE – Bed Bath & Beyond Inc. has agreed to sell a distribution center here as part of a plan to raise money through the sale of assets.
The troubled retailer on Wednesday also announced separate deals to shed its chain of Christmas Tree Shops and an institutional linen business.
The value of each transaction was not disclosed, but BB&B said it expects to generate about $250 million through the transactions.
The sales are intended to bolster the struggling firm’s finances and build shareholder value, said the Union-based company.
BB&B earlier this month reported a first-half net loss of $509.8 million for the six months ended Aug. 29. That compared to an $84.3 million deficit in the same period of 2019.