Commenting on why Bed Bath & Beyond hasn’t filed for bankruptcy yet, Houston Principal John Sparacino said that the company could be making a last-minute “Hail Mary” play, noting that “one of the biggest challenges for us restructuring professionals that have ever done company-side work is convincing management and a board that there is a real need for Chapter 11 relief.” He added that the steps they’re taking strike him as wrong and “just seems to be further kicking the can down the road to an inevitable filing where all of this goes to zero.” Click here to read the full article.
