Bed Bath & Beyond issues bankruptcy warning again! Frantically looking for buyers and investors!

Troubled retailer Bed Bath & Beyond warned Thursday it may have to file for bankruptcy if it does not receive proceeds from a stock offering, the retailer said in a securities filing on March 30.

Additionally, the company disclosed that it had lent out less money last year. According to a filing with the Securities and Exchange Commission, the company said its $565 million revolving loan was reduced from $565 million to $300 million. As part of the loan modification, Bed Bath is required to pay monthly interest.

The latest update comes after Bed Bath completed in February what was then considered a Hail Mary stock offering that was expected to inject more than $1 billion into the company. Bed Bath received $225 million from the offer, which it used to pay down some of its debt.

However, Bed Bath's stock price has plummeted in recent months, weighing on its fundraising efforts. On Thursday, its shares fell about 17% to below 70 cents per share.

The company also reported preliminary fourth-quarter results on Thursday, showing net sales of about $1.2 billion and a 40% to 50% drop in store sales. The company noted that while its free cash flow had not yet been exhausted, negative operating losses continued.

The company reported revenue of $2.05 billion in the fourth quarter of fiscal 2021. Bed Bath has been eager to stay out of bankruptcy court. As CNBC previously reported, the company has been looking for buyers and investors in recent months.

Editor ✎Estella/

Disclaimer: This article is copyrighted and may not be reproduced without permission.