Bed Bath & Beyond believes the framework and roadmap of these combined procedures will best maximize value for all stakeholders. Bed Bath & Beyond has likewise proposed procedures to govern a wind-down process for all of its assets, including of the liquidation of inventory in all retail stores and distribution centers. Moreover, Bed Bath & Beyond has filed a motion to establish procedures to govern an efficient, public, and flexible auction process to realize the full value of existing assets. To facilitate this process, Bed Bath & Beyond secured $40 million in new money debtor-in-possession financing. While the commencement of a full chain wind-down is necessitated by economic realities, Bed Bath & Beyond has and will continue to market their businesses as a going-concern, including the buybuy Baby business. (.)īed Bath & Beyond has started to wind down its business while at the same time preparing to conduct a court-supervised auction of its assets as also stated in the company's chief restructuring officer's first day declaration. The Company has filed motions with the Court seeking authority to market Bed Bath & Beyond and buybuy BABY as part of an auction pursuant to section 363 of the Bankruptcy Code. ![]() intends to use the Chapter 11 proceedings to conduct a limited sale and marketing process for some or all of its assets. ![]() While the Company has commenced a liquidation sale, Bed Bath & Beyond Inc. Following court approval, the Company expects this financing to provide the necessary liquidity to support operations during the Chapter 11 process. To facilitate this process, the Company has received a commitment of approximately $240 million in debtor-in-possession financing ("DIP") from Sixth Street Specialty Lending, Inc. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets. ![]() today announced that it (.) filed voluntary petitions for relief under Chapter 11 of the U.S. On Sunday, ailing home furnishing retailer Bed Bath & Beyond ( BBBY) finally filed for Chapter 11 bankruptcy protection amid horrible sales trends and persistent liquidity issues. JHVEPhoto/iStock Editorial via Getty Images
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