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What the numbers say: Bed Bath & Beyond has been experiencing negative growth for much of the past three years. As with most businesses, the COVID-19 pandemic hit it hard, resulting in a Q2 2020 growth percentage of -49%. While the numbers have gone up since then, the trend overall is declining. Relevance: Bed Bath & Beyond filed for Chapter 11 bankruptcy protection while asking the court for permission to auction off its assets. This has been forecasted for months, as the company has warned of potential bankruptcy since the beginning of the year. Shares of the company closed at $0.29 on Friday, making its market value $136.9M. What's next: The remaining 360 Bed Bath & Beyond stores and the 120 Buybuy Baby stores will remain open as the company begins to close the business and liquidate assets. It also filed motions in a New Jersey bankruptcy court to auction off the two brands. All of its Harmon FaceValue stores will be closed as well. |
