Bed Bath & Beyond CFO’s death ruled a suicide

The New York City Medical Examiner’s Office said on Monday that the death of Bed Bath & Beyond Inc.’s chief financial officer, who fell from the “Jenga” tower, a Tribeca skyscraper in New York, on Friday afternoon, had been determined to be a suicide.

As per the office, 52-year-old Gustavo Arnal passed away due to “multiple” blunt force trauma.

Days after the failing business announced it was shutting outlets and terminating employees, there was a suicide.

It also follows a lawsuit against Arnal and the business on August 23 for allegedly engaging in a “pump and dump” plan that included artificially boosting the company’s stock price and selling off Arnal’s shares at a higher price.

“Based on current knowledge, the company believes the claims are without merit,” the corporation said, adding that it was “in the early stages of evaluating the complaint.”

2020 saw Arnal join Bed Bath & Beyond. According to his LinkedIn page, he had a 20-year career with Procter & Gamble Co. and previously served as CFO for Avon’s cosmetics business in London.

Following a 911 call on Friday at 12:30 p.m. ET (1630 GMT), authorities discovered a 52-year-old man who had been injured in a fall dead next to the building. Police recognized the individual as Arnal. In a press release on Sunday, Bed Bath & Beyond acknowledged his passing but provided no other information.

The big-box retailer, once dubbed a “category killer” in the home and bath products industry, has declined sales after an effort to promote more of its own-brand products.

Bed Bath & Beyond said last week that it would restructure its merchandising approach, liquidate 150 shops, and eliminate 150 positions to turn around its failing company.

It predicted a larger-than-expected decline in same-store sales of 26% for the second quarter, but it said it would not sell its Buy Baby division.

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