Why Chefs' Warehouse Stock Was Down on Thursday
Chefs' Warehouse (NASDAQ: CHEF) stock fell early Thursday, with shares declining 10% by 11 a.m. ET, compared to a 0.8% increase in the S&P 500. Chefs' Warehouse announced late Wednesday that it is seeking $250 million of new loans. The debt will be in the form of convertible notes, meaning its owners will have the option of exchanging them for the company's stock.