Bed Bath & Beyond Shareholders Left Holding ‘Worthless Stock’ as Bankruptcy Hearing Approaches
August 29, 2023
Bed Bath & Beyond’s shares continue to trade at high volumes despite the fact that the company is weeks away from potentially being declared worthless due to its ongoing Chapter 11 bankruptcy case. The company filed for Chapter 11 bankruptcy protection in April and subsequently closed its physical stores while Overstock acquired its intellectual property and relaunched the business as an online-only retailer. Even though trading in the stock is deemed “highly speculative and poses substantial risks” according to the company’s SEC filing, its shares are still being actively traded.
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