Bed, Bath and Bye Bye: Company is officially in default

[storewanderer]

The Reno BBB hung a red WE'RE OPEN or something banner. It was the banner they had posted after they reopened from their corporate mandated COVID closure (since I think they could have stayed open given the store has a Harmon department).

[storewanderer]

Reading more of the amusing Reddit about BB&B.

Apparently stores are overflowing with literal garbage because the bills aren't getting paid for trash pickup. Muzak has turned off the music because bills aren't paid.

Sounds like the flames are growing.

I am so happy World Market managed to get away from this dumpster fire...

I wonder if they are paying common area fees along with lease payments. Perhaps they could sneak the worst of the trash (bathroom and break room) to the exterior trash cans so it would get picked up with common area trash. I am sure they'd get in trouble but employees and customers do not deserve this.

[reymann]

I'm just waiting to hear that BBB is liquidating the rest of their stores at this point. Once they file bankruptcy, the creditors will win.

[storewanderer]

I'm just waiting to hear that BBB is liquidating the rest of their stores at this point. Once they file bankruptcy, the creditors will win.

Actually what is going to happen is they will change their name to BB and Beyond. It costs a lot of money to keep the lights on so many letters of signs lit up so they have determined in an effort to cut electric bills that they need to remove some letters from their signs. They are going to become the store with the biggest and best selection of BBs ever. They are still working on the "Beyond" part but it appears they are going toward focusing the "Beyond" part of the store on plastic sleds. They will have them in all shapes, sizes, colors, even a glossy or matte finish. They reportedly looked at the BB area of Wal Mart and noticed plastic sleds on an overhead shelf nearby and decided this must be a huge cross selling opportunity. They supposedly noticed those sleds had been at Wal Mart for over a year and they had no idea that plastic sleds were a viable thing to sell all year. Given they will be the ONLY place to go for plastic sleds during all months of the year they expect to have a corner on this market during 9 months of the year. The sled orders will reportedly be arriving around May 15. The sled suppliers need to collect all of the unsold sleds from other retailers, give them credit, then they will sell them to BB and Beyond for 200% above what they sold them to other retailers for back in October, since they have decided a need to adjust pricing due to current inflation.

It is April 1 but at this point I don't take this seriously any day.

[ClownLoach]

Reading more of the amusing Reddit about BB&B.

Apparently stores are overflowing with literal garbage because the bills aren't getting paid for trash pickup. Muzak has turned off the music because bills aren't paid.

Sounds like the flames are growing.

I am so happy World Market managed to get away from this dumpster fire...

I wonder if they are paying common area fees along with lease payments. Perhaps they could sneak the worst of the trash (bathroom and break room) to the exterior trash cans so it would get picked up with common area trash. I am sure they'd get in trouble but employees and customers do not deserve this.

I doubt anything is getting paid. I think the biggest surprise in this is hearing exactly how low the rents were for the majority of BB&B stores, which in turn is causing many landlords to happily reclaim the keys because they're going to turn around and rent the space for double or triple the rent.

[storewanderer]

I doubt anything is getting paid. I think the biggest surprise in this is hearing exactly how low the rents were for the majority of BB&B stores, which in turn is causing many landlords to happily reclaim the keys because they're going to turn around and rent the space for double or triple the rent.

In the hierarchy of power center I think Bed Bath and Beyond was somewhere above average back in the days when they were doing better. Having them there helped draw in other businesses to said power centers, so they got pretty good rents.

I'm not sure who is going to rent these spaces in a lot of the suburban type power centers though. There seem to be a lot of vacancies.

In the more dense type locations without as much empty space I'm sure they'll reoccupy quickly.

[veteran+]

I'm just waiting to hear that BBB is liquidating the rest of their stores at this point. Once they file bankruptcy, the creditors will win.

Actually what is going to happen is they will change their name to BB and Beyond. It costs a lot of money to keep the lights on so many letters of signs lit up so they have determined in an effort to cut electric bills that they need to remove some letters from their signs. They are going to become the store with the biggest and best selection of BBs ever. They are still working on the "Beyond" part but it appears they are going toward focusing the "Beyond" part of the store on plastic sleds. They will have them in all shapes, sizes, colors, even a glossy or matte finish. They reportedly looked at the BB area of Wal Mart and noticed plastic sleds on an overhead shelf nearby and decided this must be a huge cross selling opportunity. They supposedly noticed those sleds had been at Wal Mart for over a year and they had no idea that plastic sleds were a viable thing to sell all year. Given they will be the ONLY place to go for plastic sleds during all months of the year they expect to have a corner on this market during 9 months of the year. The sled orders will reportedly be arriving around May 15. The sled suppliers need to collect all of the unsold sleds from other retailers, give them credit, then they will sell them to BB and Beyond for 200% above what they sold them to other retailers for back in October, since they have decided a need to adjust pricing due to current inflation.

It is April 1 but at this point I don't take this seriously any day.

[storewanderer]

Back to being serious I am surprised they are not somehow marketing to get traffic into the stores. I know they don't have much to sell but basically doing a quasi liquidation sale style 10-20% off everything would really help them inject cash into themselves so they could continue to string this out even longer.

[ClownLoach]

I doubt anything is getting paid. I think the biggest surprise in this is hearing exactly how low the rents were for the majority of BB&B stores, which in turn is causing many landlords to happily reclaim the keys because they're going to turn around and rent the space for double or triple the rent.

In the hierarchy of power center I think Bed Bath and Beyond was somewhere above average back in the days when they were doing better. Having them there helped draw in other businesses to said power centers, so they got pretty good rents.

I'm not sure who is going to rent these spaces in a lot of the suburban type power centers though. There seem to be a lot of vacancies.

In the more dense type locations without as much empty space I'm sure they'll reoccupy quickly.

Reason I mentioned it is because they have convinced many of their stock shills and even employees that they only closed the stores where rents made them unprofitable. I also didn't realize how wildly inconsistent their stores were, from 40K all the way down to 12K still under the BB&B brand.

The businesses lined up to take these propertied for double or triple the rent are lower productivity businesses like Burlington, Ross, Planet Fitness, and Five Below. Basically BB&B is pretty good at BSing their narratives but they don't hold up to even the lightest bit of investigation.

I really want to see some rogue employees sharing social media pictures of vermin infested garbage with the news media, so the public can see what kind of vermin are running that company.

[ClownLoach]

Back to being serious I am surprised they are not somehow marketing to get traffic into the stores. I know they don't have much to sell but basically doing a quasi liquidation sale style 10-20% off everything would really help them inject cash into themselves so they could continue to string this out even longer.

They probably haven't paid their ad agency or anyone else. At least when Gordon Brothers or Hilco run ads they pay the bill.