Posted on 01/16/2023 6:54:53 AM PST by fluorescence
Bed Bath & Beyond stock dropped Friday as investors digested reports that the company was in talks with lenders to finance the company during bankruptcy proceedings.
The conversations include the potential for a so-called horse bid, Bloomberg reported Thursday afternoon, citing people familiar with the matter. A horse bid would broker an agreement where the lender would also offer to buy some or all of the company’s assets in bankruptcy and set the low end of the bidding bar, Bloomberg added.
In an email to Barron’s, a Bed Bath & Beyond (ticker: BBBY ) spokesperson reiterated its statement that the company does not comment on “speculation of this nature,” and continues to evaluate “all paths” to regain market share and enhance liquidity.
Bed Bath’s financial performance has been struggling for a while. The company posted a wider loss than expected in the third quarter, with net sales declining 33% and same-store sales down 32%. Management has embarked on an ambitious cost-cutting plan, which includes shutting down roughly 150 stores by the end of fiscal 2022.
(Excerpt) Read more at barrons.com ...
Bed, Bath and BANKRUPT!.........................
Go woke. Go broke.
I never stepped foot in there again after they felt the need to get into politics.
Note my username.
Good riddance.
Wonder how their sales of my pillow are going.
Oh wait. Maybe that’s the problem?
The company is “a dog with fleas”.
(Gordon Gekko)
The company is “a dog with fleas”.
(Gordon Gekko)
I won’t even be attending their “Storewide 75% off sale”.
Was in one of their stores a week before Christmas. Practically deserted. Great place to view higher end kitchen gear, then buy the same online for less from an un-woke vendor.
I hope BB&B has to close all their stores, lay off all their employees and are never heard from again. What a crummy store.
All on my boycott list!! 😁
Building back better in action.
Bed Bath and Behinds, shame to see them leave (no not really, overpriced and very woke) But I do love to see them GO.
I think they were going downhill before the fight with Mike Lindell, but going woke surely broke them.
I was a long time CC user. I don't remember exactly when, but I think it was around the time of the great financial crisis when many items no longer qualified for a Kohl's card discount. They were have problems before Covid with keeping things in stock in my size. I haven't stepped foot in one of their stores until recently since Covid hit. They deactivated my card with notifying me. It probably makes sense because there is no expiration date on the card. I was offered the opportunity to reactivate my card at the checkout counter. At that point I thought F them and walked out..
Buh Bye Bed Bath and Beyond.
When they hosed Lindell, my brother returned a coat he had just bought and closed his account
He told them WHY he was closing it and left. Myself, I hardly ever went there and certainly never returned after their ‘My Pillow’ stunt.
Inflation killed BB&B. No one can afford to spend on their products now. Thanks Biden Administration.
I may have stepped foot in BB&B once in my life. I don’t remember buying anything if I did.
Haven’t given them any $$$ since they decided People like me are basically scum for supporting Trump.
I try to limit the money given to woke, exclusionary corps.
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