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The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and CSO within the company. Liquidity was raised to about $1B after a loan and additional financing were secured.
Previously, in October 2021, Amazon stated that it owned a 20% stake in the company. The stock peaked at a closing price of $146.07 on November 13, 2021. From there, the stock price fell more or less continuously during the tech sell-off in early 2022 to reach $30.68 on April 26, 2022.
The Haslam family's stake will be reduced to 20% at that time, while FJ Management will sell its stake altogether. Re-entry into convenience store market. On October 4, 2012, FJ Management re-entered the convenience store market with its purchase of Maverik Inc., a gas station/convenience store chain headquartered in Salt Lake City, Utah.
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