Bed Bath & Beyond CFO Jumps to His Death After Struggling Retailer Forced to Close 150 Stores
Bed Bath & Beyond CFO Gustavo Arnal, 52, jumped to his death from the 18th floor of the ‘Jenga Building’ in New York City.
Last Wednesday Bed Bath & Beyond announced it will be closing 150 stores as it struggles to restructure its business.
The retailer also announced it would be laying off 20% of its workforce.
According to CNBC, Bed Bath & Beyond secured $500 million in financing “to strengthen its balance sheet.”
Gustavo Arnal, who was also an executive for the struggling retail giant, jumped to his death from the Tribeca high rise on Friday.
The New York Post reported:
The chief financial officer of troubled Bed Bath & Beyond has been identified as the man who jumped to his death from the iconic new Tribeca skyscraper known as the “Jenga Building,” The Post has learned.
Gustavo Arnal, 52, who was also an executive vice president for the struggling home goods retailer, plunged from the 18th floor of 56 Leonard Street on Friday, police sources said.
The 60-story building is best known for its purposely misaligned apartments stacked atop each other, resembling the popular game “Jenga.”
Messages left with Bed Bath & Bed and Arnal’s family Saturday were not immediately returned.
On Aug. 16, Arnal sold 42,513 shares in company stock for a little over a $1 million, according to MarketBeat.com.
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