Bed Bath & Beyond Inc.’s financing options to help staunch its cash bleed have narrowed after billionaire activist Ryan Cohen sold all his shares in the company last week. Now, the struggling retailer is under more pressure to persuade lenders to provide it with fresh funds.
Since Mr. Cohen on Wednesday announced plans to sell his entire 10% stake, many of the individuals who followed him to invest in the retail chain’s shares have also sold. Its stock slid more than 60% over two days to close at $11.03 on Friday. Before that, its shares had more than quadrupled this month through Wednesday.
