It looks like it may all be over. They can't get anybody to fund CH11 for them. This is why the announcement is taking so long. Nobody comes in to fund CH11, it's fire sale time.
Company is preparing for bankruptcy without bidder in place
Retailer is on a path toward liquidation unless buyer emerges
https://www.bloomberg.com/news/articles/2023-01-27/bed-bath-beyond-falters-in-effort-to-find-buyer-in-bankruptcy?leadSource=uverify%20wall
Should only remember that not 150 stores are closing, not 200 stores are closing, not an additional 87 stores are closing, they are ALL closing. The last person to leave should switch off the lights.
Store closings are not over. This is just the beginning. They are grasping trying to stay afloat but in the end nothing can save them. I see all of BBB closed up and gone by June or July.
More stores than originally announced are closing as of today. Has anyone else noticed this? I don't see any articles mentioning it.
No doubt the people that were stealing from them will notice
Will anyone really notice Harmon stores are gone other than people that work there?
Maybe MT will finance change 11?
It is their physical Harmon locations:
Bed Bath & Beyond is cleaving off an arm in an effort to conserve cash in what could be its final hours.
A source tells Yahoo Finance the company informed workers on Thursday that all of its Harmon brand stores would be closed as the embattled retailer continues on its downward trend.
https://finance.yahoo.com/bed-bath--beyond-makes-desperate-move-while-teetering-toward-bankruptcy-source-183136026.html
Oh, and they confirmed that all 52 Harmon's will be closed: assuming they mean free standing but what would be the point of keeping the ones in store. It's just shoplifting bait anyway.
Well, it is my understanding that you must find financing to get you through the period you are in Chapter 11 and if they cannot do that, it's over. You still need financial support.
HA!
It's not a buyer they need. It is someone to fund the DIP financing cost that comes with CH11. There is nobody stepping up for this. Each day that passes now the amount of debt is drastically increasing. That is why they will go to CH7 not CH11.
Ha! That’s not how bankruptcy works! Ch11 is protection from creditors seizing your assets so you can continue to operate. It has nothing to do with finding a buyer. Finding a buyer was on the table in order to avoid Ch11.