All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. In an 8-K filing Friday, Bed Bath & Beyond BBBYQ. jumped 39.1 on Monday, boosted by news that the troubled retailer has slashed its debt. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Shares of bankrupt Bed Bath & Beyond Inc. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account The company’s lawyers defended the bankruptcy loan, saying that it was negotiated in good faith and provided necessary funding for an organized sale of its assets. A group of junior bondholders alleged Tuesday that the bankruptcy loan was based on inaccurate financial information, causing Bed Bath and Beyond to borrow more money than it needed and eroding potential repayments for junior creditors. The Buy Buy Baby assets have attracted interest from investment firms Go Global Retail and Sixth Street Partners, according to media reports.īed Bath & Beyond is also making good progress in winding down its store footprint, and it is finalizing hundreds of lease transfer agreements after a successful lease auction yesterday, the company’s attorney, Emily Geier, told Pappalia.īed Bath & Beyond’s negotiations with its lenders have not gone as smoothly, and the company will be back in court tomorrow to defend the $240 million loan it took out at the start of its bankruptcy case. Once a storied retailer, Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in April after struggling for years with dwindling sales and a failed merchandising strategy.īed Bath & Beyond is hosting a separate auction starting tomorrow for its Buy Buy Baby chain, which sells products for infants and toddlers.
Bed Bath & Beyond stores and inventory are not part of the deal. Overstock emerged as the winning bidder for the company’s intellectual property in a deal worth $21.5 million, court filings showed on Thursday.
Tal Yellin/CNNīed Bath & Beyond will live on - well, the brand, anyway A Bed Bath & Beyond store exterior is shown in the neighborhood of Chelsea, New York, on April 26.
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