Anyone know what these HR calls are about? SM are being tight lipped and saying they are just a "touch base" calls. I call BS... but, what do I know.
I do know we haven't received any freight since the second week of Jan.
Our inventory hasn't been cancelled yet, so maybe there's still hope?
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Calls are to tell people not to cash their closing retention bonus checks. No money.
I can confirm that calls are going out today for closings.
The HR calls were actually them pretending its business as usual. But they're dropping the official news regarding closings on stores today and tmrw. If your inventory is blank date or you aren't getting warehouse trucks... it's you on the list unfortunately.
I heard they are closing down the ecomms. Looks like things are getting worse. Bankruptcy is imminent at this point.
@1seh+1kQz5rF is a meme "investor". Well schooled in the art of self deception.
@1lgv+1kQz5rFt You misunderstood, I said that they will file, just was worded differently.
@1seh+1kQz5rFt what is hilarious is you thinking some organization out there would willingly take on BBB's tremendous debt and try to acquire them. If this was even remotely the case there would be a push to get inventory done ASAP not cancel it.
No one said Bbb isn’t filing bankruptcy , stores aren’t closing, or that stores want to do their own inventory or even know how. I was just stating that’s what Bbb is suggesting so they can save money. Wow, lots of keyboard warriors on here.
It's hilarious the lengths people go to... bed bath and beyond is NOT going bankrupt. open your eyes. it's clearly a merger or acquisition situation. if half the things you people are saying are true, every other retailer out there is toast and you should go short target and home depot too
And you want to save the company money because?
Is it because your manager is conversing with HR and won't give you a clue? Or because HR wants to control your off hours speech? Anyone visiting a store sees you are Kmart.
Misplaced loyalty will be taken advantage of and it will harm you.
I agree about shrink. However, in the end shrink enhances debt.
Inventory does not show debt it shows shrink. Not required. Wait until the third wave of closings that only those stores know about. If you were on the original list for no inventory you are closing you may not know it yet but you are.
I later thought of that too. I only know of one person at 53 who has done much inventory. I concur!
Moreso, who left will voluntarily do that shift? There is no easy way out of this mess besides liquidation. Imagine doing all that for BBB to file bankruptcy after, then lose your job! Worth it?
Back to overnight sessions with people who have no idea what they are doing. What a great idea. Wonder if your SMs will argue with you over a cake dome tally?
Obviously no alternative they can afford. Cue the memers....FUD, right?
BBBY acted quickly to remind people about NON PUBLIC BUSINESS on reddit, in terms of sites. Hope this answers your question.
They’re cooked!
All stores inventories were cancelled but my store is still getting freight too for @npf+1kQz5rFt. As for the stores doing their own inventory, why would we have to make a team like years ago? Every store could do an overnight or 2 and do their own using store employees and a manager and get it done and save money if inventory is required for c11. Just a thought.
The chances we will be doing our own inventory are low. I was told the same thing yesterday. The logistics to switch back will take months. We spent more doing them ourselves. Need stickers produced, have to pay the company that handles the programs and provides the equipment to the strings. We have no more field ops to assist and a lot of personnel that have no clue what we used to do years ago. It would be another clown show. It takes months to coordinate self inventories and experienced people. Whatever happens the next few weeks we will be using book inventory.
Our inventory was canceled 2 weeks ago but we are still getting freight. Anyone else in that situation?
I was told yesterday that we will be doing our own inventory. We did not receive any freight last week and so far nothing this week.
What other sites are they posting on?
All done it's just going straight to 7
HR has been busy posting their LOOSE LIPS reminders on other sites. One wonders if this is not related. It would be like them to demand obedience while lowering the lifeboats for their own use.
With all these inventories being cancelled that actually coincides with them having no funds to pay RGIS, which in all likelihood means complete liquidation.
Inventory for all locations will be mandatory for any CH11 filings to occur. If any company wants to offer DIP Financing for BBB to actually file CH11 they will require an accurate inventory of all assets to know the total debt that BBB owes. If nobody wants to fund BBB they simply dont have enough cash or credit to survive and will have to liquidate all assets "fire sale".
All inventories were canceled yesterday. All stores may not have been informed.