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Bed Bath & Beyond defaults on credit line,
warns it can't pay down debts

Original Article

Posted By: NorthernDog, 1/27/2023 1:22:09 PM

Bed Bath & Beyond said Thursday it doesn't have enough cash to pay down its debts and it has defaulted on its credit line with JPMorgan, warning once again of a potential bankruptcy. Shares of Bed Bath plunged Thursday afternoon, prompting brief trading halts. The stock closed 22% down with a market cap of about $295 million, although it traded higher Friday morning. In a securities filing, the struggling home goods retailer said it "does not have sufficient resources to repay the amounts under the Credit Facilities and this will lead the Company to consider all strategic alternatives, including restructuring


Looks like the end is near. They are running out of cash and have no My Pillows to cushion the crash landing.

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Reply 1 - Posted by: DVC 1/27/2023 1:27:12 PM (No. 1388720)
They cut out My Pillow stuff and a LOT of an already thinning customer base just said "I'll never go back" Go woke, go broke! As an older guy, I never understood the place....but I wasn't their targeted demographic, for certain.
40 people like this.

Reply 2 - Posted by: NeverVoteDem 1/27/2023 1:41:34 PM (No. 1388734)
Get woke. Go broke. Hahahahahahaha!
32 people like this.

Reply 3 - Posted by: Speedy2 1/27/2023 1:42:55 PM (No. 1388735)
woke side effects
21 people like this.

Reply 4 - Posted by: jalo1951 1/27/2023 1:53:39 PM (No. 1388743)
I certainly remember that they were the place to visit if you went to the mall. Yankee Candle being another. Fewer people go to the mall so there is not walk in traffic. And some of us just got tired of their nonsense and wouldn't even purchase their products from their websites. You can get bath products from other places. They were easy to say goodbye to.
23 people like this.

Reply 5 - Posted by: SALady 1/27/2023 2:03:34 PM (No. 1388748)
I used to shop at BB&B fairly often -- as long as I had a coupon. Otherwise, they were just too expensive. But I did get some good deals on some nice stuff with coupons back in the day. But when they cancelled My Pillow to show their "woke" credentials, they lost me. I haven't been in a BB&B in a couple of years now. I don't miss it at all.
43 people like this.

Reply 6 - Posted by: paral04 1/27/2023 2:13:49 PM (No. 1388751)
18 people like this.

Reply 7 - Posted by: RayLRiv 1/27/2023 2:19:55 PM (No. 1388753)
Bed, Bath & Beyond Hope
26 people like this.

Reply 8 - Posted by: griddog1 1/27/2023 2:23:26 PM (No. 1388755)
WOKE! A lonely place to be.
18 people like this.

Reply 9 - Posted by: GustoGrabber 1/27/2023 2:35:08 PM (No. 1388767)
Going to be some product lines and commercial space available on the cheap, in case some successful household good niche company were to explore opening some stores in pristine suburban areas.
9 people like this.

Reply 10 - Posted by: Starboard_side 1/27/2023 2:52:27 PM (No. 1388777)
Seems to be a self-inflicted demise in one part, but also most of the items are easily available online with nearly free delivery. Retail has a problem, and it's that they made the experience difficult. There are hardly any employees in the store, and when you want to pay for the items you have in your shopping cart, they make that difficult too. You usually have to wait in long lines just to give them your money! Compare that to how you can easily search online for a product, or item, and pay for it quickly.
13 people like this.

Reply 11 - Posted by: Hazymac 1/27/2023 3:14:17 PM (No. 1388784)
Back in the good old days (about 2012) while shopping at BBBY I noticed a large stack of My Pillows near the register at the front of the store. Even though I had been somewhat put off by the commercials, I tossed on My Pillow into the cart, curious. Could they really be that good? The night I spent my first night on a My Pillow, and have never been without one since. There are four levels of fill in a My Pillow: yellow (mostly for children), lavender (formerly white), green, and blue. After spinal fusion surgery, lumbar and cervical, I have slept on the latter three, and vary each night according to my mood. They're all great. Thank you, Mike! Great products! (Sheets, towels, slippers, etc., are also great.) BBBY really screwed up. Damn shame. Get woke, go broke!
21 people like this.

Reply 12 - Posted by: Gordon Mills 1/27/2023 3:24:27 PM (No. 1388789)
I shopped at BB&B for many years until they removed anything associated with President Donald John Trump. Haven't returned since.
18 people like this.

Reply 13 - Posted by: whyyeseyec 1/27/2023 3:36:48 PM (No. 1388795)
Bed Bath & Beyond Cash
9 people like this.

Reply 14 - Posted by: 901AtTheRiver 1/27/2023 3:44:24 PM (No. 1388797)
The damage was self inflicted. It's hard to be sympathetic. Enjoy your woke broke, BB&B.
15 people like this.

Reply 15 - Posted by: GoodDeal 1/27/2023 3:46:08 PM (No. 1388798)
Get woke go broke. Canceling My Pillow and the resulting boycott seems to have had an impact.
16 people like this.

Reply 16 - Posted by: Farmwife1 1/27/2023 5:58:51 PM (No. 1388879)
You have to wonder if they even understand why people stopped shopping there.
2 people like this.

Reply 17 - Posted by: MickTurn 1/27/2023 6:42:52 PM (No. 1388906)
These morons went Woke and I and millions of others dumped them like a bad pile of excrement!
2 people like this.

Reply 18 - Posted by: texaspast 1/27/2023 6:53:42 PM (No. 1388911)
There's the woke thang, for sure, but the covid over-reacting had a part, too. Our local BB&B was closed for in-store shopping (order online and delivered to your car window when you drive up) for months longer than their competitors. They just lost their clientele to more welcoming competitors!
1 person likes this.

Reply 19 - Posted by: enemyofthestate 1/27/2023 8:15:54 PM (No. 1388963)
I'm not BB&B's best customer, but when I need household stuff, I shop there instead of woke Target. ( I don't need to be told which restroom to use.) I drive by local Target on my way to BB&B.
1 person likes this.

Reply 20 - Posted by: XCenturion 1/28/2023 1:56:01 AM (No. 1389077)
I stopped shopping at BB&B after they showed their wokeness and left leaning political bias by banning My Pillow products from their stores. When you alienate half of your customers that's a recipe for insolvency.
2 people like this.

Reply 21 - Posted by: mifla 1/28/2023 5:51:47 AM (No. 1389103)
Perhaps they should merge with Disney and Nike - We Three Woke
1 person likes this.

Reply 22 - Posted by: broken01 1/31/2023 12:49:13 PM (No. 1391427)
Well you know what they say, Go Woke Go...well you know the thing.
0 people like this.

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