Bed Bath & Beyond Gets Delisting Notice From Nasdaq
David Dietze, Peapack Private wealth Management’s managing principal, analyses how stocks perform on “Making Money.”
Bed Bath & Beyond may be delisted from Nasdaq Stock market. This is just one of many problems.
The retailer is still waiting to file its quarterly report. Form 10-Q The period ended on Nov. 26, 2022. This prompted a delisting alert which was disclosed by Securities and Exchange in a Securities and Exchange filing.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BBBY | BED BATH AND BEYOND INC. | 3.35 | -0.44 | -11.61% |
This disclosure on Friday spooked investors and is yet another negative for the retailer, which is trying to avoid bankruptcy. The company said it was working hard to finish the data and plans for filing as soon possible to regain compliance under the listing rules.
BED BATH & BEYOND STORE CLOSINGS
Bed Bath & Beyond can now submit a plan to regain compliance until March 13, 2023.
The shares have fallen to below $1.00 in the meantime.
Bed Bath & Beyond
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The retailer opened last week selling off assets Sycamore Partners, a private equity firm, ahead of a possible bankruptcy Notifying the closing of 150 locations incremental cost savings of around $80 million to $101 million including overhead expense, headcount and other expenses, to achieve approximately $500 million annually in savings.
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According to Placer.ai data in November, Bed Bath & Beyond’s foot trafic fell 23.1% from the year before. (Photo by Joe Raedle/Getty Images / Getty Images
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Despite FOX Business’s inquiries, Bed Bath & Beyond has not yet responded.
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