Home goods giant Bed Bath & Beyond says it's running out of money and may need to file for bankruptcy protection — or worse. Its stores have seen fewer shoppers and declining sales as the retailer has struggled to find its footing in recent years through a series of poorly timed or otherwise lacklustre turnaround strategies. Now the retailer "has concluded that there is substantial doubt about the company's ability to continue as a going concern.”

Shares of the company plummeted by 17% in premarket trading after Bed Bath issued the updates in a pair of financial filings. Among its challenges, Bed Bath said it is having trouble getting enough merchandise to fill its shelves and is drawing fewer customers to its stores and website. The retailer also said that it wasn’t able to refinance a portion of its debt, less than a month after notifying investors it planned to raise new debt in order to pay off chunks of existing debt.