Bed Bath & Beyond (OTCPK: BBBYQ) is staggering from the grave like some reanimated Frankenstein corpse. Yes, we get it, it's been a favourite of the Hodls and stonks crowd for a long time now. That on the grounds that the guy who made GameStop work - for a given value of “work” - tried to do the same at BBBY. But the fact that even he gave up should get us thinking a bit about how likely that revival is. Like, you know, not going to happen unlikely?
We have a further indication too, which is that the company went into Chapter 11. Yes, it is possible for there to be some recovery to stockholders in Chapter 11. But that does require some very special circumstances - the point of Chapter 11 is, after all, that the debts are worth more than the assets. Yes, agreed, it happened at Hertz but that was because the price of used cars changed as a result of covid lockdowns. We're not about to say - or even imagine we would hope - that some change like that is about to come riding over the hill to save Bed Bath & Beyond.
