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.
Link: Bed Bath & Beyond warns it may go out of business, stock tanks
I had a great video chat with Brandon Rael about this not long ago with Retail Touchpoints:
I’ve given up on these guys long ago.
BBBY needs to go bankrupt and then be restarted with a strategy otherwise this will become like Sears a long painful death.
The things that I’ve heard about their technology infrastructure make it seem like too much lift to get updated and that it’s likely more efficient to just give up altogether. I’m not even sure that bankruptcy gives sufficient runway, but it also matters based on those in charge and the efforts they’re willing to expend. Sears had opportunities but misfired over and over for many years, and then failed to see the writing on the wall when it was time to give up since they weren’t going to make the investments necessary to become relevant again.