Gustavo Arnal, a senior executive at Bed Bath & Beyond, has died after he jumped from the balcony of a New York apartment, a law enforcement source told CNN.

(CNN) – The New York City Police Department has identified the man who died after jumping from a high-rise apartment in Manhattan as Gustavo Arnal. A law enforcement source told CNN that Arnal is the chief financial officer of Bed Bath & Beyond. The source says the executive died after he jumped from the balcony of his apartment on the 18th floor.

New York Police said in a statement Sunday that Arnal, 52, was found unconscious and unresponsive outside his luxurious 57-story skyscraper in the Tribeca neighborhood around 12:30 p.m. Friday. Police said the man “appears to have injuries indicating a fall from a heightened position”. Police said emergency services responded and declared the man dead.

A law enforcement source confirmed to CNN that Gustavo Arnal, chief financial officer of Bed Bath & Beyond, died after jumping from a balcony on the 18th floor of a luxury 57-story skyscraper in New York’s Tribeca neighborhood on Friday.

A police source told CNN on Sunday that Arnal’s wife saw him jump. The source said that although no suicide note was found, no crime is suspected.

The New York Police Department said the medical examiner’s office will determine the cause of death and an investigation is underway. CNN contacted the medical examiner’s office but did not receive an immediate response.

A spokesperson for the company said in response to Arnal’s death that Bed Bath & Beyond was “deeply saddened by this horrific loss”.

“I would like to extend my deepest condolences to the Gustavo family,” Harriet Edelman, chair of independent Bed Bath and Beyond, said in a statement Sunday.

Edelman added, “We are focused on the support and thoughts of his family and team at this sad and difficult time. Please join us in respecting the family’s privacy.”

The statement said Arnal has joined Bed Bath & Beyond Inc. in May 2020 after working in finance at Avon, Walgreens Boots Alliance and Procter & Gamble.

Edelman said Arnal “has been instrumental in guiding the organization through the coronavirus pandemic, transforming the company’s financial foundation and building a strong and talented team. He has also been a respected fellow in the financial community.”

CNN reported this week that Bed Bath & Beyond is in deep crisis. The company is trying to save itself and stay out of bankruptcy by deflation. The chain said Wednesday that it will lay off about 20% of its corporate staff, close about 150 stores and cut many indoor household goods brands. The company also said it had secured more than $500 million in funding to support its financial problems.

Arnal has been named as a defendant in a class action lawsuit accusing him, Ryan Cohen and other large shareholders of participating in a scheme to artificially inflate the company’s stock price.

The suit was filed August 23 in the United States District Court for the District of Columbia.

The lawsuit alleges that Arnal and others made misleading statements and omissions when communicating with investors about BBBY’s strategic plans and financial condition, and delayed disclosures about holding and selling their stock.

The lawsuit also alleges that interested parties published false earnings numbers and the company’s plans to separate its “Buy Buy Buy Baby” brand to fuel the stock-buying frenzy.

How do I get help: In the United States, call the National Suicide Prevention Lifeline at 1-800-273-8255 or 988 as of July 16, 2022. The International Suicide Prevention Association and loved ones around the world can also provide information on call crisis centers around the world.

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