From “Retail Dive” site.....
Bed Bath & Beyond is at risk of filing for bankruptcy. How did it get here?
The retailer has lost sales and market share all while experiencing mounting losses. And without a leader at the helm, it faces an inflection point.
https://www.retaildive.com/news/bed-bath-beyond-bankruptcy-risk-what-happened/630011/
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Bed Bath & Beyond CFO who leapt to his death from New York’s famed ‘Jenga’ building is accused of role in ‘pump and dump’ scheme that artificially inflated value of flailing company and cost shareholders $1.2 BILLION
Gustavo Arnal, 52, is being sued for allegedly inflating the Bed Bath & Beyond’s stock price in a ‘pump and dump’ scheme
The lawsuit, filed August 23, claims a majority shareholder approached Arnal about a plan to control shares of the company so they could both profitAs part of the plan, it says, Arnal ‘agreed to regulate all insider sales’
It alleges he put out ‘materially misleading statements’ showing the company’s finances were improving to artificially raise the share pricesBy the time he sold over 42,000 shares in the company two weeks ago it was valued at $1 millionArnal then took his own life by jumping from the 18th floor of the famous ‘Jenga’ tower in Manhattan’s Tribeca neighborhood on Friday
Bed, Bath, and Beyond is the latest example of “get woke, go broke”.
I good original business model, selling mid to upscale home products, things that people use, in a pleasant store atmosphere. I’ve bought a pan or two there myself. Then take that model and taint it by pushing an agenda that 95% of the people disagree with. Not just hiring someone who is gay - that’s not at issue. Its promoting that lifestyle, promoting the perverted mindset, making sure that the employees openly parade their gayness, their perversion, in everything they do. And downplaying all that is right at the same time.
If I go to BB&B, I go to buy something. Nothing else. Nothing dissuades me to visit the store as much as forcing the woke agenda on me.