Monday - April 24, 2023
Today's newsletter will take 33 seconds to read.
In case you've been under a rock over the past 24 hours, you've seen the news, this time coming directly from Bed Bath & Beyond.
This took us completely by surprise, although there is now evidence showing this was in the works since January. Other clues that came out of some of the docket filings is that there are around 60 interested parties in the BBBY assets.
The good news is chapter 7 wasn't filed, giving us hope.
There are several scenarios that could play out to benefit shareholders including the cancellation of chapter 11 bankruptcy altogether. Today at 2pm, there's a court hearing which may reveal more.
Here at Mother Squeezer, we're going to take a step back with the newsletter and see what unfolds as we're unsure what to expect. These next few weeks should shine some light on what's really going on. Until then, we're clinging to this:
I just got off the phone with what was once a great American brand. Lots of problems, no accountability for high paid execs and little interest in my help (at no cost). This could get interesting.
— Ryan Cohen (@ryancohen)
Apr 12, 2023