16- Bed Bath & Beyond shares jump as much as 78.8% after legendary meme stock investor’s latest bet: BBBY surged more than 70% on Aug. Here’s what we know about the chaotic summer preceding this past weekend’s tragedy:Īug. 31, the company is in the early stages of evaluating the complaint but based on current knowledge, the company believes the claims are without merit,” the Bed Bath & Beyond representative told me. “As previously noted in our 8-K filed Aug. It alleges that from March 2022 through August 2022, Arnal Ryan Cohen, an activist investor JP Morgan Securities LLC and others, “engaged in a fraudulent scheme to artificially inflate the price of BBBY publicly traded stock,” according to the court filings I reviewed. 23, listing the lead plaintiff as Pengcheng Si. District Court for the District of Columbia on Aug. In addition to financial challenges, a class action lawsuit was filed in the U.S. According to the report, her base salary will increase by $200,000, with an increase of her target annual bonus opportunity to 70%. The company filed a Form 8-K with the Securities and Exchange Commission naming Crossen the interim CFO. She has the full support of the organization, the board, and our outside advisors.” “Laura has been with the organization for more than 20 years and we are grateful for her leadership. “Laura Crossen, Bed Bath & Beyond’s chief accounting officer, will assume the role of interim chief financial officer,” a company representative told me in an email on Tuesday. Arnal joined the company in May 2020 following a career in finance at Avon, Walgreens Boots Alliance, and Procter & Gamble. His death was then ruled a suicide on Monday by New York City’s medical examiner. Over the Labor Day weekend, the retailer announced that its CFO Gustavo Arnal, 52, passed away, stating the organization is “profoundly saddened by this shocking loss.” Local reports confirmed that Arnal fell to his death on Sept. 381 on the Fortune 500, is in the midst of meme stock mayhem, dire financial straits, executive upheaval, controversy, and tragedy. I'm sad that it's closing and will miss it.Bed Bath & Beyond Inc., ranked no. NYC (black shower curtain), Boston (Black Friday), Salt Lake City (surreal 911). I have some very distinct memories of shopping at Bed Bath & Beyond. Somewhere Abbi Abrams is panic buying out every Bed Bath & Beyond in NYC and Ilana’s right there with her to help her carry all the goods #BroadCity IYKYK Natalia Mehlman Petrzela April 23, 2023 “From beefcake to bath linens” reported □ /Sywnd8gbBY Asia Leigh (Eras Tour 4/15 & 5/28) □ April 23, 2023Īs Bed, Bath and Beyond declares bankruptcy, remembering that the NYC location where I outfitted my first apartment stood on the old Chippendale’s location Honestly, truly Bed Bath & Beyond really helped me out in my NYC move especially when you don’t have Walmart and Target barely carries anything. Unsurprisingly, New Yorkers are in their feels about the closing of Bed Bath & Beyond, which played a large role in many of us whipping together a life on a budget in the big city:Ĭongrats to Tucker Carlson on his new role as “Sales Associate” at the 6th Ave Chelsea Bed Bath & Beyond. All purchases during store closing sales will be final. (BB&B is headquartered in Union, NJ.)Īlong with Bed Bath & Beyond proper, the brand’s Buybuy BABY stores are also closing, including one store in Connecticut, eight in New Jersey and five in New York State.Īlas, those iconic BB&B coupons will not be accepted by Bed Bath & Beyond stores beginning April 26, but customers can continue using gift cards through May 8. Until then, however, the brick-and-mortar locations, as well as their respective websites, will be open to customers.įor tri-state residents, those locations include three outposts in Connecticut, 20 in New York (four in New York City, including the Chelsea flagship) and 13 in the brand’s hometown of New Jersey. In the big-box store's bankruptcy filing, Team BB&B anticipated that all of its 360 stores and 120 buybuy BABY locations will shutter by June 30. In an effort to liquidate assets, Bed Bath & Beyond stores will kick off closing sales both in-store and online beginning Wednesday, April 26. Word of a potential bankruptcy has been swirling around the home goods retailer since January 2023, and now it looks like those rumors are a reality, per NBC New York. That would, of course, be Bed Bath & Beyond, that magical emporium of discount towels, overly fragrant Yankee Candles and youthful apartment dreams. New Yorkers both real and fictional (somewhere, Broad City's Abbi Abrams is weeping) are grieving the thought of a city without BB&B.
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