Bed Bath & Beyond CFO plunges to death at New York's Jenga tower

Updated on Sep 04, 2022 08:33 PM IST

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

Signage is seen at a Bed Bath & Beyond store in Manhattan, New York City.(REUTERS)
Signage is seen at a Bed Bath & Beyond store in Manhattan, New York City.(REUTERS)
Reuters |

Bed Bath & Beyond Inc's chief financial officer fell to his death from the 18th floor of New York's Tribeca skyscraper known as the "Jenga" tower on Friday afternoon, according to media reports.

Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as CFO for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile.

Police were called to 56 Leonard Street near Church Street around 1 p.m. ET (1700 GMT), where an unidentified man was pronounced dead at the scene, according to the New York Post.

Bed Bath and Beyond and the New York Police Department did not immediately respond to emails and calls for comment.

On Aug. 16, Arnal, sold 55,013 shares in the company, Reuters' calculations showed based on SEC filings.

The big-box chain - once considered a so-called "category killer" in home and bath goods - has seen its fortunes falter after an attempt to sell more of its own brand, or private label, goods.

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

Bed Bath & Beyond forecast a bigger-than-expected 26% slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.

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