{"id":549052,"date":"2023-02-08T00:36:00","date_gmt":"2023-02-07T21:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/"},"modified":"2023-02-08T00:36:00","modified_gmt":"2023-02-07T21:36:00","slug":"bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/","title":{"rendered":"#: Bed Bath &amp; Beyond making \u2018last gasp\u2019 to survive before filing for bankruptcy, says analyst, warning that the equity will eventually be wiped out"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413c0d5228e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413c0d5228e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/#%E2%80%9C_Bed_Bath_Beyond_making_%E2%80%98last_gasp_to_survive_before_filing_for_bankruptcy_says_analyst_warning_that_the_equity_will_eventually_be_wiped_out%E2%80%9D\" >&#8220;: Bed Bath &amp; Beyond making \u2018last gasp\u2019 to survive before filing for bankruptcy, says analyst, warning that the equity will eventually be wiped out&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/#Bed_Bath_Beyonds_move_to_issue_preferred_stock_is_a_%E2%80%98last_gasp_effort_to_survive_before_filing_for_bankruptcy_according_to_Wedbush_analyst_Seth_Basham_who_warns_that_the_equity_would_eventually_be_wiped_out\" >Bed Bath &amp; Beyond\u2019s move to issue preferred stock is a \u2018last gasp\u2019 effort to survive before filing for bankruptcy, according to Wedbush analyst Seth Basham, who warns that the equity would eventually be wiped out<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/#Ciara_Linnane\" >Ciara Linnane<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-making-last-gasp-to-survive-before-filing-for-bankruptcy-says-analyst-warning-that-the-equity-will-eventually-be-wiped-out\/#James_Rogers\" >James Rogers<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9C_Bed_Bath_Beyond_making_%E2%80%98last_gasp_to_survive_before_filing_for_bankruptcy_says_analyst_warning_that_the_equity_will_eventually_be_wiped_out%E2%80%9D\"><\/span>&#8220;: Bed Bath &amp; Beyond making \u2018last gasp\u2019 to survive before filing for bankruptcy, says analyst, warning that the equity will eventually be wiped out&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Bed_Bath_Beyonds_move_to_issue_preferred_stock_is_a_%E2%80%98last_gasp_effort_to_survive_before_filing_for_bankruptcy_according_to_Wedbush_analyst_Seth_Basham_who_warns_that_the_equity_would_eventually_be_wiped_out\"><\/span>\n  Bed Bath &amp; Beyond\u2019s move to issue preferred stock is a \u2018last gasp\u2019 effort to survive before filing for bankruptcy, according to Wedbush analyst Seth Basham, who warns that the equity would eventually be wiped out<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001647548\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001647548\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Bed Bath &amp; Beyond Inc.\u2019s move to issue preferred stock is a \u201clast gasp\u201d effort to survive before filing for bankruptcy, according to Wedbush analyst Seth Basham, who warns that the equity would eventually be wiped out.<\/p>\n<p> \u201cWe see these capital-raising transactions as a \u2018last gasp\u2019 to survive<br \/>before filing for bankruptcy protection where the common equity would likely be worthless,\u201d he wrote in a note released Tuesday.  <\/p>\n<div class=\"paywall\">\n       Bed Bath &amp; Beyond\u2019s<br \/>\n        BBBY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209801102\/composite\" class=\"negative\">-48.63%<\/bg-quote><br \/>\n       stock plunged 48.6% Tuesday, pulling back from strong gains Monday that saw shares of the troubled retailer gain 92% in a move that swept up other meme stocks.   <\/p>\n<p>The moves proposed by Bed Bath &amp; Beyond aim to generate additional liquidity, satisfy the company\u2019s defaulted loans and missed interest payments, and, most importantly, buy it more time, according to Basham. <\/p>\n<p> Wedbush slashed its price target on the stock to zero from $1 .<\/p>\n<p>Bed Bath &amp; Beyond said after the bell Tuesday it has closed the sale of convertible preferred stock as well as warrants to purchase common shares and convertible preferred stock. The company raised about $225 million in the sale, as expected, and is expecting to receive an additional $800 million in future installments, assuming certain conditions are met.  <\/p>\n<p>The company has said it may have to file for bankruptcy and recently disclosed it was in default on loans that were called in. <\/p>\n<p>In a Tuesday statement, the company said it will use the proceeds from the deal to repay outstanding debt and expects to reborrow loans under an amended credit facility to fund strategic initiatives in fiscal 2023, which include plans for a new store footprint and cost structure.<\/p>\n<p>The company is targeting having a network of just 360 stores and about 120 Buy Buy Baby stores across the U.S. and expects digital sales to account for more of its overall sales.<\/p>\n<p>In early January, the picture looked far different with plans to close 130 stores out of a total of 949 stores, divided between 62 Bed Bath &amp; Beyond stores in all 50 states, the District of Columbia, Puerto Rico and Canada; 137 Buy Buy Baby stores; and 50 stores under the names Harmon, Harmon Face Values and Face Values.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>\u201cWe are optimizing our store fleet and supply chain and continuing to invest in our omni-always capabilities,\u201d Chief Executive Sue Gove said in a statement. \u201cThis will enable us to better serve our customers, and grow profitably, by directing merchandise where and how they want to shop with us.\u201d<\/p>\n<p> Wedbush analysts led by Basham were underwhelmed by the company\u2019s moves earlier Tuesday. <\/p>\n<p>\u201cIf successful, this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of transactions would buy the company more time,\u201d he wrote. \u201cHowever, free cash flow was a whopping minus-$403 million in its fiscal third quarter while cash-on-hand stood at just $153 million at the end of the period, and we expect minus-$170 million in free cash flow for the fourth quarter,\u201d said Basham. <\/p>\n<p>The stock has fallen 81.5% in the last 12 months, while the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+1.29%<\/bg-quote><br \/>\n       has fallen 7%. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Ciara Linnane\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/ciara-linnane\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/linnaneciara\",\"text\":\"@linnaneciara\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:clinnane@marketwatch.com\",\"text\":\"clinnane@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Ciara_Linnane\"><\/span>Ciara Linnane<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"39_MW\" author-name=\"Ciara LinnaneJames Rogers\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fbed-bath-beyond-stock-slides-31-premarket-to-erase-some-of-mondays-rally-01675768878%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"James Rogers\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/james-rogers\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/jamesjrogers\",\"text\":\"@jamesjrogers\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:james.rogers@marketwatch.com\",\"text\":\"james.rogers@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"James_Rogers\"><\/span>James Rogers<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"271_MW\" author-name=\"Ciara LinnaneJames Rogers\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fbed-bath-beyond-stock-slides-31-premarket-to-erase-some-of-mondays-rally-01675768878%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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