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Mattress Tub & Past inventory is down 92% over the previous 12 months.
Luke Sharrett/Bloomberg
Mattress Tub & Past
mentioned Wednesday it had paid curiosity on bonds that was due a month in the past, because the embattled retailer resolves its most speedy monetary issues utilizing a rescue bundle.
The corporate mentioned in an announcement that it made the curiosity funds that had been due Feb. 1 to holders of its senior notes. Mattress Tub (ticker: BBBY) had entered a 30-day grace interval to make good on these funds in early February after warning buyers that it was contemplating submitting for chapter.
Then on Feb. 7, the retailer mentioned it accomplished an fairness providing—which can carry in additional than $1 billion, in installments—permitting it to make these curiosity funds in any case.
Mattress Tub’s inventory was up 6.5% to $1.40 after the announcement on Wednesday. Shares are down 92% over the previous 12 months.
Write to Karishma Vanjani at karishma.vanjani@dowjones.com
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