BBB in Chapter 11

[ClownLoach]

There is a delusion in play that is simply bizarre. Of course they're going to pull off a sale! To Hilco, or Great American, or Gordon Brothers, or Tiger Capital? Pick your liquidator, or combination of them. They definitely will find success in selling the company in bankruptcy, like all other bankruptcies that cannot be resolved and move to a court mandated auction. Do they think we are all 3 year olds?

I have never seen such bizarre and strange PR. Is this insanity intended to appease the brain dead "ape" investors they tried to attract in a increasingly obvious scheme to fund their executive severances? I guess it sounds better than "thanks for your cash suckers!"

I mean, they might as well secure something they can live off and retire, because I don't think a fast food place would hire these executives to run a fry station with this abomination on their resume.

https://www.cnbc.com/2023/04/24/bed-bat ... -sale.html

[veteran+]

There is a delusion in play that is simply bizarre. Of course they're going to pull off a sale! To Hilco, or Great American, or Gordon Brothers, or Tiger Capital? Pick your liquidator, or combination of them. They definitely will find success in selling the company in bankruptcy, like all other bankruptcies that cannot be resolved and move to a court mandated auction. Do they think we are all 3 year olds?

I have never seen such bizarre and strange PR. Is this insanity intended to appease the brain dead "ape" investors they tried to attract in a increasingly obvious scheme to fund their executive severances? I guess it sounds better than "thanks for your cash suckers!"

I mean, they might as well secure something they can live off and retire, because I don't think a fast food place would hire these executives to run a fry station with this abomination on their resume.

https://www.cnbc.com/2023/04/24/bed-bat ... -sale.html

I'm betting the very same idiots will be recycled and resurface somewhere in corporate America. :twisted:

[storewanderer]

There is a delusion in play that is simply bizarre. Of course they're going to pull off a sale! To Hilco, or Great American, or Gordon Brothers, or Tiger Capital? Pick your liquidator, or combination of them. They definitely will find success in selling the company in bankruptcy, like all other bankruptcies that cannot be resolved and move to a court mandated auction. Do they think we are all 3 year olds?

I have never seen such bizarre and strange PR. Is this insanity intended to appease the brain dead "ape" investors they tried to attract in a increasingly obvious scheme to fund their executive severances? I guess it sounds better than "thanks for your cash suckers!"

I mean, they might as well secure something they can live off and retire, because I don't think a fast food place would hire these executives to run a fry station with this abomination on their resume.

https://www.cnbc.com/2023/04/24/bed-bat ... -sale.html

I'm betting the very same idiots will be recycled and resurface somewhere in corporate America. :twisted:

With as much as they've been paid by BBB, why can't they just go retire?

[storewanderer]

There is a delusion in play that is simply bizarre. Of course they're going to pull off a sale! To Hilco, or Great American, or Gordon Brothers, or Tiger Capital? Pick your liquidator, or combination of them. They definitely will find success in selling the company in bankruptcy, like all other bankruptcies that cannot be resolved and move to a court mandated auction. Do they think we are all 3 year olds?

I have never seen such bizarre and strange PR. Is this insanity intended to appease the brain dead "ape" investors they tried to attract in a increasingly obvious scheme to fund their executive severances? I guess it sounds better than "thanks for your cash suckers!"

I mean, they might as well secure something they can live off and retire, because I don't think a fast food place would hire these executives to run a fry station with this abomination on their resume.

https://www.cnbc.com/2023/04/24/bed-bat ... -sale.html

Now that they are bankrupt they should quit spending money on these communications and let the stuff being filed by the courts do all of the communicating for them. I am surprised the people being paid to do this communication are even approved to remain as payroll/expenses (if contractors) by the bankruptcy court.

If some sliver of Baby is useful to someone maybe someone will bite but I think they have pretty much buried Baby. Could TJX be interested in Baby as a format for itself? If they wanted a format like that, they could have opened one on their own. But maybe if it is cheap enough in bankruptcy they would bite on some sites (and let the rest of the leases get rejected). I see no other logical buyer. Even TJX is a big stretch.

[wnetmacman]

Also why is it not a Chapter 7 if they are winding down?

In Chapter 11, the company can have a better say in what's going on. Execs can give themselves big paychecks to stay, they can choose liquidators, etc. At the end, when little or nothing is left, they can convert to Chapter 7 and let the vultures lawyers fight out what's left. That's when things like intellectual property are auctioned off.

[storewanderer]

Just went into Reno BBB. Probably 100 cars out front. Store inside was packed full of customers. Every department had multiple shoppers and many had carts.

The store closing sale has not yet started.

I walked around thinking what is everyone thinking?

The checkout line was so long it was forming along the side wall. They had 3 cashiers open and at least 15 customers in line waiting.

Unreal. And why?

Gift card users? People with coupons? I don't get it.

[SamSpade]

I had a friend run in to buy new 'guest room bed sheets' before the retailer closed. I guess people really have forgotten that mid-level stores like Target, JCPenney, Macy's all sell perfectly acceptable linens, including one set from JCPenney being Wirecutter's "best buy" for sheets.

[BillyGr]

Just went into Reno BBB. Probably 100 cars out front. Store inside was packed full of customers. Every department had multiple shoppers and many had carts.

The store closing sale has not yet started.

I walked around thinking what is everyone thinking?

The checkout line was so long it was forming along the side wall. They had 3 cashiers open and at least 15 customers in line waiting.

Unreal. And why?

Gift card users? People with coupons? I don't get it.

Very likely those two things you mention. Some wanting to use a coupon (since Tues was the last option for that), and others with the cards wanting to be sure they get to use them on something they want (as waiting for the sales might leave the selection to be things they don't care about, or even just that they can get more before that using both the coupon and then paying with a gift card, as the beginning sales may be less discount than the coupons were).

[rwsandiego]

I had a friend run in to buy new 'guest room bed sheets' before the retailer closed. I guess people really have forgotten that mid-level stores like Target, JCPenney, Macy's all sell perfectly acceptable linens, including one set from JCPenney being Wirecutter's "best buy" for sheets.

I find JCPenney's Fieldcrest towels to be superior to anything BBB sells or has sold in the past.

[storewanderer]

The Reno Store started its store closing sale yesterday. They do not have any type of sign kit, etc. for store closing. They just have black and white liquidation signs posted that say 10% off and those are posted throughout the store like they photocopied one sign they received.

I thought they sent store closing sign kits to all stores but it appears the Reno location did not keep the sign kit it received.

They did also take down the big "we're open" banner from the front of the building.

A couple of longer term employees in the store who somehow did not get laid off previously, definitely seemed pretty sad. Most of the employees didn't seem upset at all, younger ones.