Bed Bath & Beyond stock is headed to $0 as the struggling retailer works on a 'last gasp' effort to stave off bankruptcy, Wedbush says
from a credit line to repay outstanding debt. close an additional 141 storesThe move along with other cost-cutting could help stem the bleeding, said Basham. But the company's survival will depend partially on vendors having clarity on liquidity to accept more normal payment terms, he said.
Wedbush estimated that additional capital coming into Bed Bath & Beyond would provide it with"just a few more quarters" to turn around its operations.
"In the event the transactions are successful, BBBY common shares could rise as they are trading like options on the company's survival, but the ultimate value would be undermined by this highly dilutive offering of preferred stock that would have priority over the common shares," he said.
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