Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Bed Bath & Beyond likely to file for bankruptcy this week - Reuters

Published 01/31/2023, 06:24 PM
© Reuters
BBBYQ
-

By Senad Karaahmetovic

Bed Bath & Beyond (NASDAQ:BBBY) is preparing to file for bankruptcy as soon as this week, according to Reuters.

The company has already prepared a list of liquidators to close additional stores unless a last-minute buyer emerges, the report states citing several people familiar with the matter. Liquidators could be launched as soon as this weekend if needed.

Bed Bath & Beyond’s executives were meeting on Monday to discuss potential options of last resort. The company is in talks with investment firm Sixth Street, which already loaned $375 million to BBBY last year, to secure additional funding.

Today’s reporting comes after Bed Bath & Beyond said last week it defaulted on a loan and is now reportedly likely to skip debt payments that are due tomorrow.

BBBY stock gained 12.55% yesterday to close at $2.87, giving it a market capitalization of $336.71M.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.