Bed Bath & Beyond (BBBY) announced it signed a vendor consignment agreement to get merchandise on its store shelves as it fights to stave off bankruptcy.

The struggling retailer that the deal is with ReStore Capital, a unit of diversified financial꧃ services firm Hilco Global, which🌠 says it provides “creative financing solutions” to businesses.  

Bed Bath & Beyond indicated tꦬhat ReStore Capital will buy up to $120 million of pre-arranged merchandise from the company’s key suppliers “on a revolving basis at any given time.” It added the i🅷dea is to supplement inventory levels already sold at its namesake and buybuy BABY stores.

CEO Sue Gove said the move is part of the company’s effort༒ to execute plans to help it “overcome near-term operational and financial challenges.” She indicated that the vendor consignment program will enable Bed Bath & Beyond to “increase our inventory position in top items that customers are buying and improve the customer experience.” 

Trying to Sustain the Business

Gove also argued that the company is “doing what we must to sustain our business immediately and unlock our true value over the long-term, for all stakeholders.” Bed Bath & Beyond warned in January and again last month that it may have to seek bankruptcy protection unless it can raise more cash t🥃o keep it afloat.

The news didn’t help the stock, as share꧙s tumbled 5% on Wednesday to an all-time low.༺