teamgreen02 Posted January 26, 2023 Share Posted January 26, 2023 Stick a fork in em, they're done. By October these storefronts will be filled with companies selling Halloween costumes. https://finance.yahoo.com/news/bed-bath-beyond-receives-default-203000206.html Quote (Reuters) -Bed Bath & Beyond Inc has received a notice of acceleration and default interest for its loans from JPMorgan Chase Bank N.A., a regulatory filing showed on Thursday. Shares of the company slumped more than 22% to $2.52 in afternoon trading. The bank has determined to exercise rights such that all outstanding loans under credit facilities and other obligations of Bed Bath & Beyond under its amended credit agreement are due and payable immediately. The struggling home goods retailer said it does not have sufficient resources to repay the amount at this time, adding that it will consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code. Bed Bath & Beyond earlier this month said it was exploring a range of options to address its plunging sales that included declaring bankruptcy. The company was also considering skipping debt payments due on Feb. 1, a source had told Reuters. All of the outstanding loans and obligations under the credit facilities would bear interest at an additional default rate of 2% per annum, starting Jan. 25, as a result of continuing defaults, Bed Bath & Beyond said. The company has also been in talks with prospective buyers and lenders to keep its business afloat, CNBC reported earlier in January. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted January 26, 2023 Platinum Contributing Member Share Posted January 26, 2023 Isn’t that where the Pillow guy sells his stuff Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 26, 2023 Share Posted January 26, 2023 They’ve been dying for years. So is kohls. I don’t expect them to be around much longer. Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted January 26, 2023 Gold Member Share Posted January 26, 2023 Fuck Amazon and Fuck Lazy dumb Americans that buy everything from their phone. Gonna be nothing left in this Country except Amazon Warehouses because of these idiots 1 2 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 26, 2023 Share Posted January 26, 2023 I do miss taking the stagecoach down to the local downtown woolworths and buying my yearly woolens. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 27, 2023 Share Posted January 27, 2023 Amazon ftw. Quote Link to comment Share on other sites More sharing options...
SkisNH Posted January 27, 2023 Share Posted January 27, 2023 As a brick and Mortor retailer for 22 years....where are the manufacturers going to sell an 800.00 Faucet without someone displaying it as a functional model. Who will take the customers custom kitchen from site visit to design through installation. While I buy plenty of things on Amazon, retail will never go away. Retail is not the buggy whip. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 27, 2023 Share Posted January 27, 2023 39 minutes ago, SkisNH said: As a brick and Mortor retailer for 22 years....where are the manufacturers going to sell an 800.00 Faucet without someone displaying it as a functional model. Who will take the customers custom kitchen from site visit to design through installation. While I buy plenty of things on Amazon, retail will never go away. Retail is not the buggy whip. I’ve been a plumber for 37 years, it’s amazing how many people buy their fixtures online and want us to install them. A lot of plumbers will not do the work unless they provide the product, others will mark up their labor to compensate as they should. Another shitty thing that has been happening is some people will schedule a visit at a wholesale plumbing supplier who has a showroom, they’ll waste the salesperson’s time looking at various fixtures. After they leave with a spec sheet with all the model numbers they’ll search them and buy them online. $800 for a faucet? Not many people in my area would spend that on a faucet. I see a lot of empty store fronts and you can bet the internet killed them. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted January 27, 2023 Platinum Contributing Member Share Posted January 27, 2023 17 minutes ago, snoughnut said: I’ve been a plumber for 37 years, it’s amazing how many people buy their fixtures online and want us to install them. A lot of plumbers will not do the work unless they provide the product, others will mark up their labor to compensate as they should. Another shitty thing that has been happening is some people will schedule a visit at a wholesale plumbing supplier who has a showroom, they’ll waste the salesperson’s time looking at various fixtures. After they leave with a spec sheet with all the model numbers they’ll search them and buy them online. $800 for a faucet? Not many people in my area would spend that on a faucet. I see a lot of empty store fronts and you can bet the internet killed them. I agree bought all our fixtures either from the plumbers supplier he directed me to or plumber himself. 1 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted January 27, 2023 Platinum Contributing Member Share Posted January 27, 2023 1 hour ago, snoughnut said: I’ve been a plumber for 37 years, it’s amazing how many people buy their fixtures online and want us to install them. A lot of plumbers will not do the work unless they provide the product, others will mark up their labor to compensate as they should. Another shitty thing that has been happening is some people will schedule a visit at a wholesale plumbing supplier who has a showroom, they’ll waste the salesperson’s time looking at various fixtures. After they leave with a spec sheet with all the model numbers they’ll search them and buy them online. $800 for a faucet? Not many people in my area would spend that on a faucet. I see a lot of empty store fronts and you can bet the internet killed them. Our local Ace Hardware is minutes from my house and they have an extensive plumbing department plus they have Jan whose late father was a plumber in town for years…I can walk in with a part in my hand and she starts leading me to the proper aisle and spot without saying a word…service like this is invaluable.👍🏼🇺🇸 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 27, 2023 Share Posted January 27, 2023 40 minutes ago, Jimmy Snacks said: Our local Ace Hardware is minutes from my house and they have an extensive plumbing department plus they have Jan whose late father was a plumber in town for years…I can walk in with a part in my hand and she starts leading me to the proper aisle and spot without saying a word…service like this is invaluable.👍🏼🇺🇸 Yep, there’s still plenty of good people who appreciate the knowledge and service of a professional. It’s the cheap pricks and ungrateful idiots who sometimes leave you wondering why you’re still in business. Over 37 years in biz and I’m grateful for all of my wonderful customers but man do I have some stories to tell. Maybe I should write a book. Quote Link to comment Share on other sites More sharing options...
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