April 19 - Bed Bath & Beyond Inc (BBBY.O) is talking with advisers and lenders ahead of a bankruptcy filing that could come in the next few weeks, Bloomberg Law reported on Wednesday, citing people with knowledge of the conversations.
https://www.reuters.com/business/retail-consumer/bed-bath-beyond-revives-bankruptcy-preparations-bloomberg-tv-2023-04-19/
@rpf+1md2qNrg Completely agree, the Baby ship has sailed as it is another concept that is bleeding cash with nearly no revenue coming in. No coincidence there have been no buyers in the past 6 months. When analysts dug in to Baby they found it's worthless.
In this day of it's-all-connected "journalism", it's easy to flood the market with bankruptcy article"s" whenever they're needed - someone writes just one, and all the other outlets just cut-n-paste.
By the way, Walter's last name was Cronkite, not "Kronkite".
@iim+1md2qNrg Agreed with all you said , except at this point BABY is probably worth less because of stores closures , decreased sales , lost market share , tarnished image, etc .
@wmx. Stock is up because of short covering for profits.
@iim+1md2qNrg "...but who in the right mind would fund operations after the bankruptcy filings?" Elimination of the debt anchor combined with DIP financing should have been arranged last year and they would have been doing a proper restructuring attempt now but they chose the mine retail investors route that worked with the once in a lifetime GME game plan. They ignored the selling enough stuff part.
@wmx+1md2qNrg 100%. There is most definitely some shady stuff going on that will be exposed once the dust settles. When that happens SG will be like teflon walking away with a huge chunk of change and on to her next company to drive into the ground. Meanwhile thousands of people will be jobless.
I think we all know that this company is heading towards bankruptcy in the near future.
Just very suspicious when the company shows any sign of positive gain via their stocks all these “Bankruptcy” articles start to show up left and right. When it’s down to a cost of a stick a gum, ghost town. It’s like it’s being artificially manipulated.
*not a meme trader, just an ex employee seeing the manipulation happening in real time.
As is always the case, there is really only one article, and everyone else copies it. When Walter Kronkite died, true journalism was buried with him.
My bad, false alarm. The rental is for Glendora, Ca and SENT to Liberty.
$158K in back rent due.
For all I know, Glendora could already be history.
Bloodbath was just issued a notice of non payment of rent at Liberty. Complete shot of it is on another side. Eviction warning?
"five day" window on lease enforcement or "quit"
The title should be changed to Bed Bath & Beyond Remains in Bankruptcy Preparations. Sorry to say since so many jobs will be lost, but who in the right mind would fund operations after the bankruptcy filings? As far as the banks, investment firms, etc. that have provided loans to BB&B within the last few months without substantial collateral, I sure as he** do not want my personal money invested with them. Some will state the collateral is BuyBuy Baby. BB Baby is only worth approximately $800M. BB&B was so called fielding interest from would be acquirers this time 2022 and that abruptly came to an end. All a smoke and mirrors performance about double digit growth all driven by the King of meme, Cohen. I have only been employed by four different companies during my career and this place is the worst. All of the pressure placed on the retail store employees while HQ places handcuffs on them daily. I have and will never understand how someone that has spent their entire career working in HQ feels they are more knowledgeable than those that live it each day working in the stores. Apologize, I lost track of the initial top as usual due to my A.D.D.
Yeah I only trust companies like Fox, OAN and News hacks who get get their rear ends handed to them for false reportage. Of course Crack Mikey is also getting sued. But damn that MSM......
/s.
With that said to have bankruptcy looming over your company...if this was false (some would argue that even if it were true) they would shoot this down immediately, but they aren't. Vendors are only sending merchandise to stores now because Hilco is paying them up front. BBB is in such dire straits and to be honest incredibly near bankrupt they aren't even bothering coming out saying this is untrue. Even if they did nobody would believe them and would be laughed at even further.
Yet another article about bankruptcy.
This company has so many bankruptcy articles since 2020. Let me guess unnamed sources with knowledge in the matter.
As someone who believe this company is heading towards bankruptcy in the future. These clickbait articles are getting old. And they wonder why people dislike the MSM