Thread regarding Bed Bath & Beyond layoffs

Anyone thinking of purchasing stock associated with this offering should donate instead. At least someone will receive a benefit from the donation.

On face value, this is a borderline scam. Any funds derived from the stock sale must be used to pay the balance of the ABL Loan. My cynical view is BB&B is attempting to sell stock and use the proceeds to make their buddies whole that provided the loan. Vendors will still go unpaid, no merchandise in the stores to sell and just delay the bankruptcy filing by a couple of weeks. Shifting the loss from the ABL Loan provider to the purchaser of the stock.

How could they miss? By shipping old monogrammed glass pumpkins we had when I worked there 4 years ago to the stores, that's how.

Would have been easier to just declare Ch.11 after MT left, but they had to manipulate things so Gove could afford to visit Downers Grove and the loft critters, do the PR visits and still get the golden parachutes for her crack team. The ones who ran the jump plane into the ground.

The end is nigh. CH7 is around the corner.

We have only 3 bottles of Coke left in our cooler, one is half empty, Manager said to unplug to save electricity. Not much left to sell.

Bed Bath & Beyond
is warning of a bankruptcy filing — again — if a proposed $300 million stock offering doesn’t pay off.

The beleaguered retailer said in a securities filing Thursday that its lenders downsized its loan. If it doesn’t receive proceeds from the stock offering, Bed Bath & Beyond warned Thursday it will likely need to file for bankruptcy protection.

https://www.cnbc.com/2023/03/30/bed-bath-beyond-again-warns-of-bankruptcy-with-new-stock-offering.html