Michael M. Santiago
Bed, Bath & Beyond (NASDAQ:BBBY) swung lower again in premarket action on Friday.
Investors are scrambling following BBBY’s going concern warning issued on Thursday and reports that a bankruptcy may be imminent. Even if BBBY survives, more store closings are anticipated. The retailer closed 37 locations in the U.S. across 19 states last year, including shuttering locations in New York, California, Florida, Alabama, Arizona, Georgia, Idaho, Missouri, Mississippi, Montana, Michigan, New Jersey and Minnesota.
In its SEC filing, BBBY said it is considering alternatives including restructuring or refinancing its debt, seeking additional debt or equity capital, reducing or delaying the company’s business activities and strategic initiatives.
Shares of Bed, Bath & Beyond (BBBY) fell 11.85% premarket to $1.49 on heavy early volume.
The Seeking Alpha Quant Rating on BBBY has been flashing Sell since November.
Image and article originally from seekingalpha.com. Read the original article here.