According to a breaking news report by Reuters, Bed Bath & Beyond (US:BBBY) chief financial officer Gustavo Arnal fell to his death on Friday afternoon, per a police statement on Sunday. The incident occurred at New York’s Tribeca skyscraper, which locals commonly refer to as the “Jenga” tower.

Based on his LinkedIn profile and company records, Arnal, 52, joined the struggling retailer in 2020. Previously, he worked as CFO for cosmetics brand Avon and enjoyed a 20-year tenure at Procter & Gamble (US:PG), a household goods giant.

On Friday at 12:30 p.m. ET, police responded to a 911 call, discovering Arnal, who was dead on the scene after suffering injuries from the fall. Reuters stated that a police statement provided no further details regarding the circumstances involving the fatal incident. Bed Bath & Beyond issued a press release acknowledging the executive’s passing but likewise gave no details.

However, CNN Business reports that a law enforcement source spoke to the news outlet. According to its account of the incident, Arnal “jumped” to his death from the Manhattan high-rise apartment building. Further, emergency services responded to the incident and pronounced Arnal dead on the scene.

“The law enforcement source told CNN Sunday that Arnal's wife witnessed him jump. The source said while no suicide note was found, no criminality is suspected.”

A Bed Bath & Beyond spokesperson stated that the company is “profoundly saddened by this shocking loss.” Arnal’s passing comes at a particularly challenging time for the embattled retailer.

Once considered a category killer according to Reuters, the big-box chain “has seen its fortunes falter after an attempt to sell more of its own brand, or private-label goods.” Last week, management stated that it would “close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.”

However, BBBY stock attracted the attention of so-called meme traders, a catch-all phrase that describes contrarian retail (public) investors that coordinate their activities via social media platforms, often to spark short squeezes.

According to Fintel’s Short Squeeze Leaderboard, BBBY stock currently ranks as number 173 among 250 entries. The security features a short float of 39.80% and 0.45 days to cover.

In August, BBBY stock spiked dramatically when financial disclosures revealed that activist investor Ryan Cohen had acquired large call option positions. Shortly afterwards, though, shares crumbled as Cohen exited his position.

Documents filed with the U.S. Securities and Exchange Commission revealed that in 2021, Arnal bought a total of 32,500 shares of BBBY stock. On Jan. 11, 2022, the CFO bought 15,000 shares. However, on Aug. 18, the executive sold in total 55,013 shares, the day that BBBY stock closed down 19.6% against the prior day’s session in the open market.