The documents say the parent company has determined it’s no longer able to provide financial and operational support to its Canadian arm. Visit my group and Keep up to date with all the latest offers while also having the. It recently raised about $1 billion through offerings of preferred stock and warrants, which it said will be used to pay off debt. I’ve decided to promote and sell products that I love By becoming an independent Body shop consultant. has shut scores of its stores across the country and warned last month that it may need to file for bankruptcy protection as it was unable to pay back its loans. 26, Bed Bath & Beyond Canada’s assets were valued at around $480.1 million, the documents show, while its total liabilities were worth around $429.7 million.Īdjusted earnings for the past three financial years were negative, and the Canadian arm of the retail giant contributed significant negative adjusted earnings margins to the parent company, the documents said. The company had a net loss of $99.5 million for the nine-month period ending Nov. was granted an initial order for creditor protection by the Ontario Superior Court of Justice Friday under the Companies’ Creditors Arrangement Act, according to the company acting as the court-appointed monitor for the case.īed Bath & Beyond Canada is insolvent and cannot restructure its operations without support from its American parent company, court documents posted to Alvarez & Marsal Canada Inc.’s website show.īed Bath & Beyond Canada has commenced the creditor protection proceedings to allow for a timely wind-down of the business and liquidation of inventory, according to the documents dated Feb. To earn $1.4 a share – down significantly from $3.19 per share a year ago.Bed Bath & Beyond Canada Ltd. In its current financial quarter, the retailer is Target stock that pays a dividend yield of 2.55% is currently down over 30% versus its high in April 2022. We hebben Bath & Body Works naar Nederland en België gehaald Jouw favoriete geuren, zepen en kaarsen zijn nu online beschikbaar. Parikh is bullish also because Target is committed to expanding its digital footprint and has a bunch of partnerships with other brands. So, light a few candles, draw a bath and grab your favorite bath and body care buys to feel shiny and new again. His conservative call is for a 50 bps to 100 bps boost to its comps in the near term. Bath & Body Did someone say ‘me time’ There’s nothing we love more than a little pampering with our favorite bath and body products. We think Target Corporation could have even better access to more brands over time to the extent a significant Bed Bath & Beyond retrenchment comes to fruition. Once Bed Bath & Beyond fully liquidates, Parikh says in his research note, Target will see a meaningful increase of 14 cents to 28 cents in its per-share earnings. His $190 price objective on the department store suggests about a 13% upside from here. Bankruptcy Code.Įarlier this month, BBBY said it lost $385.8 million in its third financial quarter – more than double the $158 million that analysts had expected (Īlso on Friday, an Oppenheimer analyst said the retailer’s demise would be a benefit for Target Corporation ( This will lead the Company to consider all strategic alternatives, including restructuring its debt under the U.S. JPMorgan has already presented the embattled chain of domestic merchandise retail stores with a notice of default. Shares are still slightly in the green this morning. ), on Friday, confirmed that it doesn’t have sufficient funds to repay its debt.

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