Told ya! I hope you listened.
The end may be near for Bed Bath & Beyond (BBBY).
In a statement published before the market open on Thursday, the company said bankruptcy is on the table as it works to shore up its leaky balance sheet amid continued financial struggles
It was all there in the financials and public filings, as I said all along.
Down 94% from the high to under $2 now.
I said Ryan Cohen screwed the BBBY investors and that BBBY was a dogshit company that was on the brink of bankruptcy.
Some of you attacked me for saying it. One cowardly mod (bubble_burst) even banned me for saying it.
I was right. I hope someone here listened and saved the pain of losing most of your investment in this loser company.
Mike Lindell should buy them, stock his products at the entrance, and watch the whole thing turn around 180 degrees and be the most profitable retailer in the mall!
This would be awesome. BBBY is dirt cheap now.
It will be even cheaper in bankruptcy court and liquidation.
But why would Lindell want to take on a massive headache and throw his money down the drain at the same time?
He ain't stupid.
Couple of assumptions there. The infrastructure is there, the logistics is mature, their operations were fine. The ivory tower people made very bad decisions and their whole organization is paying the price. If you go to a location now, I think you'll probably see low morale but still well kept stores.
A review of the balance sheet, cash flow and P&L would be in order, but I would bet that a quick reorganization and perhaps bankruptcy to clear contracts and obligations to start fresh would turn it around completely. My family would go there immediately, and a bunch of us pedes would buy them out quick. Then he can restock with all-American stuff and... to the moon!
I haven't been paying much attention to BB&B's politics, but as a layperson I'll add my 2 cents. Something happened to their stock. It's all generic, cheaply made, and their selection is dogshit. I don't remember it being so bad 5+ years ago. It definitely gives off Kmart vibes.