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Bed Bath & Beyond's road to potential bankruptcy

(Reuters) - From a failed merchandising strategy to activist investor pressure over overpayed executives, Bed Bath & Beyond Inc (NASDAQ:BBBY) has been on a largely downhill ride...
Bed Bath & Beyond's road to potential bankruptcy © Reuters. Signage is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly/File Photo
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(Reuters) - From a failed merchandising strategy to activist investor pressure over overpayed executives, Bed Bath & Beyond Inc (NASDAQ:BBBY) has been on a largely downhill ride over the last few years.

The company said on Thursday it was exploring options including a bankruptcy, which sources told Reuters could come within weeks.

Here's a look at some of the major developments at the retailer over the past year:

Date Development

March 7, GameStop (NYSE:GME) chairman Ryan Cohen discloses a near

2022 10% stake in the company and says he wants the

retailer to explore strategic alternatives that

include a full sale.

March 25, Bed Bath & Beyond and Cohen reach a settlement

2022 where three new directors will join the

company's board and it will look for

alternatives for its buybuy Baby unit.

April 13, The company reports a surprise quarterly loss on

2022 a 22% slump in sales, which it blames on

supply-chain issues and falling store traffic.

June 29, The company replaces Chief Executive Officer

2022 Mark Tritton as part of a management shake-up to

reverse a slump in its business.

Aug. 16, Shares of the company jump nearly 30%; analysts

2022 point to a short squeeze on the meme stock.

Aug. 18, The company's stock plunges after a regulatory

2022 filing shows that Cohen exited his position in

the company.

Aug. 31, Bed Bath & Beyond secures more than $500 million

2022 in financing, pauses plans to sell buybuy Baby,

announces plans to close 150 stores, cut jobs

and overhaul its merchandising strategy.

Sept. 04, Chief Financial Officer Gustavo Arnal falls to

2022 his death from New York's Tribeca skyscraper, in

what was later ruled a suicide.

Sept. 29, The company says it is seeing early signs that

2022 efforts to clear excess inventory are working

and it expects its cash flow to break even in

the fourth quarter.

Oct. 26, Interim CEO Sue Gove will keep the role

2022 permanently, the company announces.

Jan. 05, Bed Bath & Beyond is preparing to seek

2023 bankruptcy protection in coming weeks, sources

tell Reuters, after the company raises doubts

about its ability to continue as a going

concern.

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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