Bed Bath and Beyond Bankruptcy
If you have been following the bed bath and beyond bankruptcy rumors lately, you may be feeling a bit panicked concerning those gifts cards. Rest assured, this company is not going anywhere.
Somehow, the bed bath and beyond bankruptcy rumors have gotten way out of control. This company’s rival company, Linens ‘N’ Things, was confronting bankruptcy due to a debt of $16.1 million in interest as of 2008. The chain, which is owned by Apollo Global Management, is facing bankruptcy, though it is not their first choice when dealing with debt. As of this moment, the chain has not filed for bankruptcy. As far as that other rumor goes, it appears as though it was just a rumor.
Experts Your Questions Now.
Interestingly, other reports state that Bed Bath and Beyond (BBB) may be purchasing quite a few stores that were once owned by Linens ‘N’ Things. Rather than change those stores into BBB locations, rumor has it that BBB intends to buy them, and then sell them off in order to pay some debts. Is this true? Well, only those higher ups at BBB know for sure. Regardless, those of you that have panicked concerning one particular email that listed a number of stores rumored to be going out of business should consider one thing: filing for Chapter 11 does not necessarily mean that a store is going out of business.
Simply put, Chapter 11 allows large corporations to restructure their business by arranging payment plans with debtors. Those corporations that do choose to file under this law are essentially protecting their business. A business cannot be forced to liquidate while they are underneath Chapter 11 protection. The only thing that this sort of filing means is that a business is attempting to restructure, which will allow them to stay open in the long run (hopefully). Thus, the next time a rumor floats around concerning certain businesses that may be facing “Chapter 11,” this simply means that they are going through a bit of financial duress…though is does not equate a chain closing. At this time, the bed bath and beyond bankruptcy rumor is not valid.
From A Bankruptcy Lawyer Now.
If you are researching these rumors in order to gain information concerning your own company, please be advised that this article has not been written by a lawyer. Thus, it is important that you contact a bankruptcy lawyer dealing specifically with corporations if you need personal business help.
Now that you know all about the supposed bed bath and beyond bankruptcy filing, you can save those gift cards for a rainy day.