Shares of Bed Bath & Beyond (NASDAQ: BBBY) continued to slide in pre-market trading on Friday after a Wall Street Journal report that the omnichannel retailer’s bankruptcy could be imminent.
The report stated that the retailer “is in the early stages of planning for a chapter 11 bankruptcy filing and the discussions could extend into February.” BBBY announced yesterday that it was facing liquidity issues and bankruptcy could be on the horizon.
BBBY stock had a rollercoaster year in 2022 where the stock saw a huge see-saw in performance. It was hammered at times as earnings missed estimates while at other times, witnessed investors’ enthusiasm as part of a meme stock frenzy.
The stock has lost more than 85% of its value in the past year.